Is all my Income Taxable?
October 10, 2012
Generally, all sources of income worldwide are subject to income tax unless specifically excluded. Here are some sources of money that are not taxable: * Money received as a loan. * Gifts and inheritances. * Child support received. * Welfare benefits. * Worker’s compensation (generally). * Damages received for physical injury or sickness. * Cash rebates from purchases. * Meals...
Tags: excludable incomeincludable incomeworldwide income
Category: Taxes