Guy Brenda CPA

What is taxable?

Generally, you are taxed on income that is available to you regardless of whether it is actually in your possession. But there are some situations when certain types of income are partially taxed or not taxed at all. A complete list is available inIRSPublication 525, Taxable and Nontaxable Income. Some common examples of items that are not included in your income are: Adoption Expense Reimbursements for qualifying expensesFunding of your Health Savings Account with a one-time direct transfer ... READ MORE Posted September 22, 2009 at 11:08 AM