What Income is Taxable?

Frequent changes in the tax laws make it easy to be confused about any number of issues you need to know to prepare your tax return.  Since I prepare tax returns in my law practice, I stay on top of these matters by constantly reading various publications and following the IRS web site.  A useful way for you to stay informed is to watch tax tips the IRS adds to its YouTube channel.  Here's a short IRS video about what is, may be, or is not taxable income.  Take a few minutes to watch and listen.  Even if you don't do your own taxes, staying informed about tax matters can provide you some comfort.  But, remember, even if you know what income is taxable or not, be sure to provide your tax preparer with all tax documents you receive from any source to help him or her to prepare your taxes accurately.  Watch Now or come back later as your schedule dictates.

Paul