Your taxable income is the portion of your income subject to federal tax, and it’s important for several reasons. To start, your taxable income amount determines your tax bracket and marginal tax rate ...

After years of paying into the Social Security system, many seniors are surprised to learn that the benefits they receive after retirement may be subject to federal income tax. This is generally ...

Filing taxes can be daunting, even overwhelming. Whether you file with help from a professional or on your own, calculating precisely what you owe to the Internal Revenue Service, or what the IRS owes ...

After decades of working and contributing to the Social Security system, many retirees assume that the benefits they've earned are exempt from federal income tax — but unfortunately, that's not always ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Composite by ...

Most forms of income count as taxable — but not all. Here’s how to calculate yours and some ways to reduce your liability. Many, or all, of the products featured on this page are from our advertising ...