Tag Archives: Taxable income

Important Facts about Mortgage Debt Forgiveness

Posted on March 12, 2013 by Camron Hoorfar

If your lender cancelled or forgave your mortgage debt, you generally have to pay tax on that amount. But there are exceptions to this rule for some homeowners who had mortgage debt forgiven in 2012. Here are 10 key facts … Continue reading →

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Taxable and Nontaxable Income

Posted on February 12, 2013 by Camron Hoorfar

Most types of income are taxable, but some are not. Income can include money, property or services that you receive. Here are some examples of income that are usually not taxable: Child support payments; Gifts, bequests and inheritances; Welfare benefits; … Continue reading →

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Four Things to Know About Bartering

Posted on February 20, 2012 by Camron Hoorfar

In today’s economy, small business owners sometimes save money through bartering to get products or services they need. The IRS wants to remind small business owners that the fair market value of property or services received through barter is taxable … Continue reading →

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