Income

Income is the compensation you receive in exchange for labor, services, the sale of goods or property, or as a profit from investments. Income can come in many forms, including cash or cash equivalents, properties, securities, and/or services.

Generally, amounts included in your income are taxable unless they are specifically exempted by law. You are usually taxed on income available to you, regardless of whether the income is actually in your possession. For example, an uncashed check is available to you any time you need it, so it is considered income when received.

If you so choose, you can do your taxes online to make sure your taxable and untaxable income are separated and properly taxed.