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 ...

Understanding your 1040 is the best way to legally minimize your taxes. Top tax professionals will tell you that effective tax planning needs to be proactive, not reactive. The best tax planning needs ...

Income refers to money, property or services you receive, typically in return for some service rendered or goods sold. Typical sources of income can include your pay as an employee, your earnings as a ...

Most taxpayers are familiar with salary and wages at tax time. But investment income, which includes interest, dividends, and capital gains, can be subject to different rules and rates, making it ...

Exemptions, deductions and rebates may sound similar, but they work at different stages of tax calculation and directly ...

Health insurance benefits are tax-exempt if received by the insured and if received by a person having an insurable interest in an insured. 7 Medical expense reimbursement benefits must be taken into ...