2603 Search Results
Examples of Nontaxable Income vs Taxable Income
https://www.sofi.com/learn/content/non-taxable-income/
The IRS divides income into taxable and nontaxable categories. In general, income is taxable unless there’s a law exempting it. As you’d expect, all taxable income must be included on your yearly income tax return. But here’s the twist: Nontaxable income may also need to be listed on your return, too. Because anything tax-related is […]
What Is the Due Diligence Tax Preparer Penalty?
https://www.sofi.com/learn/content/due-diligence-tax-preparer-penalty/
The due diligence tax preparer penalty is a fine for income tax preparers who fail to meet due diligence requirements when preparing tax returns that claim certain credits or head of household filing status. The IRS takes due diligence very seriously because fraudulent claims are becoming increasingly common. The agency even conducts “Knock and Talk” […]
Guide to Canceling a Pending Transaction
https://www.sofi.com/learn/content/how-to-cancel-a-pending-transaction/
If you spot a pending credit card transaction that isn’t correct or isn’t even yours, canceling it will likely be your top priority. And for good reason: It’s often wise to act quickly when dealing with this kind of financial situation rather than waiting to see how things work out. You want to take action […]
I Make $80,000 a Year. How Much House Can I Afford?
https://www.sofi.com/learn/content/i-make-80k-a-year-how-much-house-can-i-afford/
An $80,000 annual salary would allow you to purchase a home priced up to around $300,000 — that is, if you follow the conventional guidance, which is that you spend no more than a third of your pretax income on housing costs. But there’s more (lots more) to it than that. By just about any […]
I Make $200,000 a Year, How Much House Can I Afford?
https://www.sofi.com/learn/content/i-make-200k-a-year-how-much-house-can-i-afford/
An income of $200,000 a year puts you in a good position to afford a home priced at $600,000. But whether you should aim higher or lower than this in your house hunt will depend on your debt, how much you’ve saved for a down payment, and current interest rates, among other factors. Read on […]