Knowing your taxable income (the amount of your income subject to federal tax that you must report on your federal tax return) is important for several reasons. The IRS requires that you report ...

When tax time rolls around, figuring out which types of income you need to report to Uncle Sam can be confusing. Adjusted gross income, taxable income, investment income, interest income — all ...

That, in turn, is based on your taxable income and filing status. But there are several ways you can lower your taxable income without taking a pay cut — from putting more into retirement to ...

There are an enormous number of side gigs that could help you earn a little extra cash each month. Whether you want to drive for Uber, deliver groceries, try your hand at freelance graphic design or ...

FreshSplash / Getty Images Ordinary income is income earned by an entity or an individual that is taxable at marginal tax rates. It can include wages, salaries, tips, bonuses, commissions ...

Hobby income differs from other types of income (like self-employment income and income from your side hustle), and the IRS taxes each type differently. Determining whether your revenue stream ...

Enter household income you received, such as wages, unemployment, interest and dividends. Choose the filing status you use when you file your tax return Input the total of your itemized deductions ...

Age Your standard deduction: $14,600 A fixed dollar amount based on your income and tax filing status that reduces the amount you’re taxed on. Consider it tax-free income that you keep before ...

The IRS has revamped its tax reporting regulations for digital income, impacting how individuals report earnings from ...

With the tax season upon us, now is the time to take stock of all taxable income. While that may seem like a simple and straightforward task, it's not always so clear-cut, even if you're a ...

Dividend income tax rates depend on the dividend type, an individual's filing status, and taxable income. Dividends are taxed at the long-term capital gains or ordinary income tax rate.