Q: Is this Income Taxable?
While most income you receive is generally considered taxable, there are some situations when certain types of income are partially taxed or not taxed at all. Followings are common examples of items that are not included in your income;
1. Child support payments
2. Gifts, bequests and inheritances
3. Workers' compensation benefits
4. Compensatory damages awarded for physical injury or physical sickness
5. Welfare benefits
6. Cash rebates from a dealer or manufacturer

02/05/2010 10:47:59

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