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What Does Annual Income Mean When Applying for a Credit Card?
https://www.sofi.com/learn/content/what-does-total-annual-income-mean/
When you apply for a credit card, the credit card issuer will ask you for your annual income. They want to be sure you have the means to pay your bills on time. Issuers may ask you to calculate your income in specific ways. For example, they may ask for net income or gross income […]
Living off Dividend Income: What You Need to Know
https://www.sofi.com/learn/content/what-is-dividend-income/
Dividend income: what is it? How is it taxed? Can you make your living off of dividend income alone? We cover all that and more.
How to Reduce Taxable Income for High Earners
https://www.sofi.com/learn/content/how-to-reduce-taxable-income-for-high-earners/
If you’re looking to reduce the amount of income tax you’ll need to pay, there are numerous strategies to consider. Familiar moves include contributing to tax-deferred retirement and health-spending accounts, deducting certain taxes and interest, and making charitable donations. More complex maneuvers include timing investments to offset gains with losses. Because each person’s situation is […]
US Average Income By Age
https://www.sofi.com/learn/content/average-income-by-age/
Age plays a major role in how much money people make. This is simply because as you get older, you gain career experience and bring more value to companies. Income tends to peak at ages 35-44. But when are a worker’s “peak earning years,” and what happens after they’re past that period? Keep reading for […]
Guide to No-Doc or Stated Income Business Loans
https://www.sofi.com/learn/content/stated-income-business-loans/
To get approved for a small business loan from a bank, businesses typically need to submit a long list of documents — including resumes, personal and business tax returns going back several years, and a business plan. The approval process can take months, and the sheer amount of paperwork involved can be daunting. Fortunately, there […]