Income Sources and Tax Treatment: A Friendly Guide
Understanding how different income sources are taxed helps you plan better, reduce your tax burden, and avoid surprises come tax season.
Understanding how different income sources are taxed helps you plan better, reduce your tax burden, and avoid surprises come tax season.
Personal income tax is a tax levied by the government on the money you earn during a year. This income can come from many sources, such as: Salaries and wages: