Taxable income is the portion of your income that the IRS considers subject to federal income tax. It includes both earned income, such as wages and self-employment earnings, and unearned income, such ...

They may sound similar, but it’s critical to understand the difference between gross income and taxable income. While gross income encompasses all the money you earn from various sources throughout ...

After decades of working and contributing to the Social Security system, many retirees assume that the benefits they've earned are exempt from federal income tax — but unfortunately, that's not always ...

Reporting taxes, applying for a loan and making a new company budget will require you to know how much money you bring in each year. Annual income is one of the most valuable metrics for quick, ...

Effective tax rate is your average tax rate as a percentage of total income. Marginal tax rate is the tax on your highest dollar earned, not your total income. Historically, top marginal rates have ...

Taxable income is your gross income minus adjustments and deductions. Common taxable incomes include wages, business earnings, and investment gains. Increase retirement contributions or prepay ...