Social Security benefits, unemployment benefits, alimony, child support and gambling winnings are not earned and do not arise from making investments. Retirement income, such as money you withdraw from a 401(k) or IRA is generally not considered investment income for tax purposes...
Brown, Jeff
1. Parker and Peyton have a toddler. In 2019 they earned $50,000 which resulted in total tax of $2,684. The Child Tax Credit of $2,000 reduced this dollar-for-dollar to $684. (For tax calculations, I used ourFederal Income Tax Calculator.) Total possible benefit with 1 child: $2...
he wanted to be free of debt and felt tempted to finish making monthly payments for the loan. He makes good income and is very disciplined about expenses, so paying the remaining balance would not cause any financial burden to him, and neither would maintain the monthly payments. His main ...
and Income Tax issues and concerns. In addition to this blog, you’ll find Jim’s writings all around the internet, as he is a regular contributor toForbes.com,TheStreet.com, andFiGuide. Several other sites also republish his work. ...