Whether you must file depends primarily on your income, age, and filing status, and there are clear thresholds to consider.
The way your income is taxed differs based on whether it’s considered earned or unearned . Read on to learn more.
The kiddie tax is a set of tax rules designed to prevent parents from reducing their tax burden by shifting investment income to their children. It applies to children under the age of 18, or ...
You must file a federal tax return if your income meets the IRS filing threshold for your age and filing status, if you ...
Forbes contributors publish independent expert analyses and insights. Bob Carlson researches all facets of retirement finances. There’s a Stealth Tax retirees and near-retirees often don’t know about ...
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If a child collects a sizable amount of money from investments or other sources of unearned income in a given year, their parent or guardian will likely need to pay taxes on it. While a portion of the ...
Learn how the income exclusion rule categorizes certain incomes, like certain interest and child support, as tax-free, ...
I have an idea for Social Security: The present tax is only on earned income, wages, the money actually worked for. So-called unearned income, like rent, interest, dividends, is not taxed for Social ...