Gain an understanding of various types of income, and whether or not they are taxable.
☑ Boosted Financial Planning
☑ Accurate Tax Filing
☑ Improved Tax Savings
✎ Fun Fact: 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.
*The program is intended for general information purposes only. It is not intended to be relied upon and is not a substitute for professional financial advice based on your individual conditions and circumstances. Your use of Caravan services is subject to additional terms and conditions.
Up Next in All Classes
-
5 Min Standard Deduction Vs. Itemized...
Learn about types of tax deductions and how they can impact your tax returns.
☑ Tax Deduction Fundamentals
☑ Improved Tax Filing
☑ Tax System Awareness✎ Learn The Facts: Some common situations in which itemizing can be more beneficial include: if you have experienced both significant gambling ...
-
5 Min Basic Tax Forms
Learn about the various types of tax forms and which ones will suit your needs.
☑ Tax Form Awareness
☑ Tax System Understanding
☑ Tax Season Support✎ Learn The Facts: There are around 15-20 common tax forms for individuals. However, the exact number can depend on each individual's unique finan...
-
5 Min Tax Filing Status
Learn about a variety of tax filing statuses and which ones can help meet your unique needs.
☑ Filing Status Options
☑ Tax System Understanding
☑ Improved Tax Outcome✎ Fun Fact: The IRS considers your marital status as of the last day of the tax year. This means if you get married on December ...
