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Did you know? Not all money you receive is taxable income. Many people assume that if money hits their bank account, it automatically needs to be reported. That isn’t always true. While most earned income is taxable, certain types of income are not considered taxable under federal tax law. Here are some common examples.…
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This is a question I hear often, especially from new business owners: “My business didn’t make any money, I don’t need to file … right?” Most often think “I don’t need to file taxes with no income.” The truth? That’s not necessarily how it works. Starting a business comes with tax responsibilities that don’t…