Tag Archives: Child support

Non-taxable income

Non-Taxable Income

If you try to determine the difference between taxable and non-taxable income, remember one basic fact: All income that is not specifically excluded by law is taxable. In essence, any money you receive in the form of wages or tips for work is taxable. In addition, any revenue you earn from property or services, whether […]

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How to Report Alimony and Child Support

Don’t forget that alimony and child support have an impact on your taxes. You have to report the amounts when you file. Here’s the breakdown. Alimony Alimony payments are deducted from your taxable income, which lowers the amount you are taxed on as long as you meet the following requirements: You pay by cash, check, […]

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