Before 1985, Social Security benefits were not subject to federal taxes. Beneficiaries received their full amount without deductions. However, this changed, and now, for retirees with higher incomes, ...

Schedule K-1 details income from pass-through entities for tax reporting. Investors must allocate K-1 income by state to meet nonresident tax obligations. Credits may be available for taxes paid to ...

Income refers to money, property or services you receive, typically in return for some service rendered or goods sold. Typical sources of income can include your pay as an employee, your earnings as a ...

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 ...

The Gazette offers audio versions of articles using Instaread. Some words may be mispronounced. It is nice that seniors 65 and older will now be able to exclude $6,000 if their taxable income is low ...

Though most retirees find that their tax burden falls in retirement, there’s one tax that consistently seems to surprise and confuse people: the taxation of Social Security benefits. Most retirees ...

Income tax is a government-levied tax on income generated by individuals and businesses. Taxes are used to fund public services, government obligations, and infrastructure like schools and roads.