Whether or not retirement income is eligible for taxation depends on how the income is apportioned and on how much income is earned, with both income and benefits entered into a single equation. Larger sums and sums that exceed previous yearly income are typically taxed by the federal government.
In the majority of cases, grant money is nontaxable as long as it is used by a student for qualified educational expenses at a degree-granting accredited institution, notes the Internal Revenue Service and TurboTax AnswerXchange. Likewise, artistic grants to individuals are generally nontaxable inco
The estate, or inheritance tax, is the tax on the right to transfer assets at the time of the owner's death, the IRS explains. The estate's administrator or executor prepares an account of every asset the decedent owned on the date of his death using the current fair market value. This is the gross
Cash gifts, which means someone gifts cash without receiving items of equivalent value in return, are generally taxable, according to the Internal Revenue Service. Exclusions do apply. For tax years 2014 and 2015, individuals can gift up to $14,000 without being taxed.
Certain types of labor services are taxable in Florida including nonresidential cleaning, commercial pest control, and detective and security services. Certain communication services are also taxable for labor including telephone, cable, video conferencing and satellite services.
Veterans and their families do not pay tax on their benefits, states the U.S. Army. Pension and disability payments; funds for training, education and subsistence; grants for homes that accommodate wheelchairs; and grants for motor vehicles for veterans who have lost the use of an eye or limb are ta
The Internal Revenue Service considers scholarship income to be tax-free if the student is a degree candidate at an eligible institution and the money is used for qualified educational expenses. Scholarship income is taxable if it is used for unauthorized expenses or the student performs services to
Social security income is not taxable if it was the only income a person received in 2014, according to the Social Security Administration. Individuals who earned a sustainable income through other sources outside of Social Security must pay taxes on a portion of their SSA benefits.
According to CarsDirect, mileage reimbursement up to the federal mileage reimbursement rate is not taxable, but a standard car allowance is considered to be taxable income. If an employee is not reimbursed for mileage, he or she is allowed to list that amount as a deduction on his or her annual tax
Disability Living Allowance is not taxable. The United Kingdom gives this allowance to those who need extra help with movement and daily routines due to a physical or mental disability. This disability must prevent those receiving it from working or being able to take care of daily tasks on their ow