K-1 Form Basics to Help You Meet the Tax Deadline
Are you trying to finish your tax return by the tax deadline, but you’re not sure what to do with the K-1 you received? Jim Wang gives more information on K-1s to help you file before the deadline.
Most recent tagged with: Taxable Income
What Income is Taxable and Non-Taxable?
Our tax system is straightforward in the sense that you pay taxes on taxable income. How much you pay will depend entirely on the type of income you receive. Most income is taxable income but there are some examples of non-taxable income and we’ll look at both. Full story
![A Visual Guide to Taxing Bonuses [Infographic]](http://i2.wp.com/images.blog.turbotax.intuit.com/swf/Turbotax-Bonus-Time.png?resize=140%2C120)
A Visual Guide to Taxing Bonuses [Infographic]
With end of year tax planning on everyone’s agenda, those that are lucky enough to get a bonus this year are wondering, “How bonuses are taxed?”. Since this a common question we are seeing at this time, we thought it would be helpful to show how bonuses are taxed in an infographic. Full story
![How Profitable and “Liked” are the Top Four World Series Contenders [Infographic]](http://intuitturbotax.files.wordpress.com/2012/10/121019-turbotax-top4-baseball-teams1.png?w=140&h=120&crop=1)
How Profitable and “Liked” are the Top Four World Series Contenders [Infographic]
The average value of Major League Baseball teams continues to rise with an all time record hitting $605 million during the past year. With the top four Major League Baseball teams slugging it out for a top spot in the World Series this week, we thought it would be fun to do an infographic showing how profitable and “liked” the top four World Series contenders are. Full story
A Stream of Revenue: A Breakdown of Sources of Personal Income [Interactive]
With the election coming, the latest news these days is all about tax rates, taxes collected, and sources of income. Your tax rate can be impacted not only by how much you make, but also the sources of income. For instance, wages, business income, and investments are taxed at different rates. Do you know the different sources of income? Check out our interactive to see where taxpayers’ personal income comes from by income level. Full story
What Income Percentile Are You [Interactive]?
People are always worried about keeping up with the Joneses when it comes to income. They wish they could have the same luxuries as their neighbors or friends who make more money than they do. We have provided this cool interactive that allows you to input household incomes and see what percentile they fall in when comparing U.S. and world income. You may be surprised to find you are in the same percentile as your neighbor you envy so much. Full story
Cashing Out: Lottery Winnings After Taxes
Last Friday everyone scrambled to get that last mega millions lottery ticket and anxiously awaited the announcement of the biggest jackpot in U.S. lottery history. But lottery participants aren’t the only ones excited about the lottery frenzy. Some state governments are just as ecstatic since the taxes on one lump-sum payment could mean millions in state revenue. Check out our interactive showing an example of how a much smaller (but I’ll take it) lottery winning would be taxed. Full story
How Are Gambling Winnings Taxed?
Most people don’t think about taxes on their way to the casino. But what might seem like nothing more than a fun night in Las Vegas actually carries significant tax consequences if you win. Failure to properly report your haul can result in serious penalties and headaches you just don’t want. Full story
Bonus Time: How Bonuses Are Taxed and Treated by the IRS
Bonuses can change your tax situation depending how large the bonus and what methods employers use to tax the income. Find out how bonuses(supplemental income) are taxed. Full story
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Are Taxes Considered in Your Football Fantasies?
Fantasy sports players are constantly monitoring their team rosters and checking their winners, but are… Full story
Have questions? Our tax experts are here for you.
