The adventures & musings of an Enrolled Agent representing clients in Tax Controversy cases at the Neighborhood Christian legal clinic - Low Income Taxpayer Clinic.

Indianapolis, Indiana

Taxes Q&A: Understanding What Is And Is Not Taxable

Taxes Q&A: Understanding What Is And Is Not Taxable

Is Social Security retirement income taxable? Up to 85% of your Social Security retirement benefits may be taxable, although it depends on your total income and civil status. Federal law states that an individual must pay taxes if you have annual Social Security retirement income of more than $25,000. If you are married, you mustRead more about Taxes Q&A: Understanding What Is And Is Not Taxable[…]

What Is A Dependent For Tax Purposes?

What Is A Dependent For Tax Purposes?

What are the qualifying characteristics of a dependent for tax purposes? Following is a general explanation on how to determine dependents, and how it relates to your tax status, liability and the credits you can claim on your tax return. There are a few assessments that a person must pass in order to qualify asRead more about What Is A Dependent For Tax Purposes?[…]