JK Harris | May 5, 2009
By now, you may have noticed a small boost in your take home pay due to President Obama’s “Making Work Pay” tax credit. In the past month, millions of taxpayers have been receiving the credit designed as part of the economic recovery package enacted by Congress in February.
The problem lies in new withholding tables issued [...]
JK Harris | February 25, 2009
While most income you receive is generally considered taxable, there are some situations when certain types of income are partially taxed or not taxed at all.
Some common examples of items that are not included in your income are:
Adoption Expense Reimbursements for qualifying expenses
Child support payments
Gifts, bequests and inheritances
Workers’ compensation benefits
Meals and Lodging for the convenience [...]
JK Harris | January 20, 2009
If you are divorced and are paying or receiving alimony, there are some basic tips you should follow when filing your 2007 federal income tax return.
If you receive alimony payments from your ex-spouse, that money is taxable to you in the year you receive the payments. And since no taxes are withheld from alimony payments, [...]
JK Harris | January 15, 2009
In general, most income you receive is going to be taxable. However, there are some situations where it is only partially taxable and some that are not taxable at all.
Some income that is not taxable includes: child support payments, gifts, bequests and inheritances; workers’ compensation benefits; welfare benefits; and cash rebates from a dealer or [...]