For those of you who have asked about the federal tax treatment of social security benefits, here’s some interesting information. The Adjusted Base Amount The portion of social security benefits that you must include in gross income depends on whether your modified adjusted gross income (MAGI), as described below, increased by one-half of the social […]
Archives for January 2017
Crowdfunding Tax Issues
According to crowdexpert.com, an estimated $34 billion was raised by crowdfunding in 2015. This number is expected to have increased in 2016. Crowdfunding is a way to raise money from a large group of people and is most often done online. Common crowdfunding websites such as Kickstarter or GoFundMe allow for people all around the […]