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Posts Tagged ‘taxable income’

Know What’s Not Taxable

February 10, 2015  |   Tax Tips   |   Tags: , ,  

When you begin preparing your tax return, you learn that there are not many things that the IRS will not consider taxable. Some of the obvious taxes that we all pay are taxes on wages, rent, interest, commissions, tips, and dividends. You are also taxed on capital gains, prizes, and on the gifts that you receive. Forgiven or cancelled debts even come at a taxable price.