Tag Archives: Social Security

Are you a stockholder for any corporations? In some cases, stockholders can receive dividends from the corporation as property distribution. These dividends are generally paid in cash, though they may also be distributed as additional stock or property. Dividends may also be received through trusts, estates, partnerships, and associations subject to tax as either a […]

What is Gross Income?

We all like getting paid. When payday rolls around, it can be the happiest time of the month, at least until the next one. But did you know any salary, wages or tips you receive are considered part of your gross income and must be included at tax time. Withholdings, such as Medicare, income tax, […]

When the time comes to file your tax return, it’s incredibly important to ensure you’ve filled out every section with the utmost accuracy. Otherwise, you risk a delay in processing and incorrect refunds. Before you click “submit” or drop your return in the mailbox, double check all sections for the most common tax filing mistakes […]

If Social Security or Railroad Retirement Benefits are your entire source of income for the tax year, you may not have to file a tax return. Even if you received any other form of income, your benefits are typically tax-free as long as your modified adjusted gross income (MAGI) is more than the base level […]