5 Min Taxable Income Vs. Nontaxable Income
Ana
•
4m 23s
Gain an understanding of various types of income, and whether or not they are taxable.
☑ Boosted Financial Planning
☑ Accurate Tax Filing
☑ Improved Tax Savings
✎ Learn The Facts: Taxes on gifts are typically the responsibility of the giver, not the recipient. If someone gives a financial gift that is not related to compensation for services, it generally does not count as taxable income for the recipient. However, if an employer gives a gift of over $25 to an employee, the gift is no longer tax free and should be reported as income.
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