“Non Taxable”

768 Search Results

768 Search Results

Breaking Down the Parent PLUS Loan Application Process

Breaking Down the Parent PLUS Loan Application Process

https://www.sofi.com/learn/content/applying-for-a-parent-plus-loan/

…end of your repayment period, any outstanding balance is forgiven, but under certain circumstances, this forgiven amount may be considered taxable income by the IRS. The Takeaway PLUS Loans are…


Tax Preparation Checklist 2024: Documents You Need to Gather

Tax Preparation Checklist 2024: Documents You Need to Gather

https://www.sofi.com/learn/content/tax-preparation-checklist/

…a deduction lowers your taxable income, a credit gives you a dollar-for-dollar deduction in your tax liability. So if you can claim a $2,500 credit, that means your taxes owed…


Guide to Low-Income Student Loans

Guide to Low-Income Student Loans

https://www.sofi.com/learn/content/low-income-student-loans/

…education. •   Be a U.S. citizen or an eligible noncitizen •   Have a valid Social Security Number •   Be enrolled or accepted for enrollment as a regular student in an…


What Is 401(k) Auto Escalation?

What Is 401(k) Auto Escalation?

https://www.sofi.com/learn/content/401k-auto-escalation/

…reduce taxable income in the year they are made, providing an immediate tax benefit. In 2025, employees can contribute up to $23,500 a year to their 401(k), up from $23,000…


What Is a Money Purchase Pension Plan (MPPP)? How Is It Different From a 401(k)?

What Is a Money Purchase Pension Plan (MPPP)? How Is It Different From a 401(k)?

https://www.sofi.com/learn/content/money-purchase-pension-plan/

…for retirement. 💡 Quick Tip: Want to lower your taxable income? Start saving for retirement with a traditional IRA. The money you save each year is tax deductible (and you…


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