In a perfect world, the income you receive would be all yours to keep. However, the tax man is on his way and any dollar you earn is subject to a tax bill. But what is taxable income? Is it everything ...

Your taxable income is your federal tax liability based on both earned and unearned income received during the tax year. An individual’s taxable income is the amount of money they’ve received over the ...

While taxable income and adjusted gross income (AGI) might sound similar, they refer to different stages of your income after certain deductions and adjustments have been applied. AGI starts with your ...

If A, from the example in the article, had the same amount and type of taxable income in 2017 under the old kiddie tax rules and her parents had taxable income of $250,000 and they did not owe ...

The alternative minimum tax (AMT) calculation determines whether a taxpayer must pay an additional amount beyond their regular income tax liability. To calculate AMT, taxable income is adjusted by ...

Depreciation recapture taxes gains from selling depreciated property as ordinary income, reclaiming prior tax benefits. If you’re a business owner, you’ve probably bought at least some property to use ...

Depending on the type of IRA account you own, when you made your withdrawal, and whether or not your contributions were deductible, the taxable amount of an IRA withdrawal can vary significantly. Here ...