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Recent Posts in Gross Income Category

Are debts discharged in bankruptcy taxable?

Are debts discharged in bankruptcy taxable? No. As in you can see from our last blog post, "Gross Income Defined" almost everything is taxable "expect as otherwise provided." The ...
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Gross Income Defined:

Gross Income Defined: Gross Income is Defined by the IRC §61 as "Expect as otherwise provided in this subtitle, gross income means all income from whatever source derived, including (but not ...
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