Discover whether retirement income qualifies as earned income. Learn about the sources of retirement incomes, the IRS ...

Personal net income is calculated as the total amount of revenue earned less the total amount of personal expenses. This differs from gross income which limits what can be deducted from total ...

To annualize income based on less than one year of data, multiply total earned income by the ratio of the number of months in a year divided by the number of months for which income data is available.

You can open a custodial Roth IRA for a child as long as that child has earned income. Anyone can contribute to the account as long as the contributions don't exceed the child's earned income.

This article was expert reviewed by Lisa Niser, EA, an enrolled agent and tax advisor. The Earned Income Tax Credit (EITC) can reduce taxes and increase refunds for low- to moderate-income workers ...