Questions tagged [income]

Questions related to the earning of money (or other capital) within a specified time frame. Topics such as methods to increase income, account for it, track it, analyze it, or disclose it are all appropriate, but discussions of *income tax* should use that tag instead.

Filter by
Sorted by
Tagged with
75
votes
11answers
18k views

Parent asking for money after I moved out

My parents are divorced and my dad has to pay to my mom financial support for everyone in the family. Because I moved out, my dad removed part of this financial support that he gives my mom. She is ...
69
votes
9answers
39k views

Making $100,000 USD per month, no idea what to do with it

I have a few consulting jobs I do on the side, and this year I've had a lot of extra work, with several months in 2016 exceeding $100,000 USD in billing. I do this work from my home with no ...
64
votes
17answers
20k views

How to share income after marriage and kids?

My girlfriend and I are thinking about marriage and having children and I have spent the last days trying to figure out concepts how to handle finances from that point forward. I believe that this is ...
56
votes
20answers
14k views

Are there any financial disadvantages to living significantly “below your means”?

By living "below" your means I'm asking about spending significantly less than you could, rather than living "within" your means which of course is sensible if you are able to do it! So for example: ...
53
votes
8answers
23k views

How much money should I save in order to generate $1000/month for the rest of my life?

How much money do I need to make in order to generate 1k/month for the rest of my life? Is that even possible? If yes, in what way? Edit: I am 30 years old.
43
votes
4answers
17k views

How can I get a job without pushing my family's income into a higher tax bracket?

I live in Seattle and turn 18 before the year's end, and I'm told my family has an income such that if I get a job and make more than $1000, then I would push my family into a higher tax bracket. ...
38
votes
8answers
12k views

Do I have to explain the source of *all* income on my taxes?

I live in the US. A complete stranger knocked on my door, gave me a pallet of $20 bills (which in total amount to several hundred thousand dollars), and left without saying a word. As far as I can ...
36
votes
8answers
11k views

What can I do to passively generate income?

I work 3 jobs totaling at 52 hours weekly. I don't have anything of value that I can sell for money. I put $10 into penny stocks a few weeks ago, but they don't gain much. I'm 25, and my savings is ...
32
votes
13answers
4k views

I'm only spending roughly half of what I earn; should I spend more?

around 6 months ago I started this job. Around 3 months ago while reading this very website I downloaded a budgeting software and started writing down everything I earned and spent, and I noticed I'm ...
30
votes
7answers
18k views

What exactly is a “bad,” “standard,” or “good” annual raise? If I am told a hard percentage and don't get it, should I look elsewhere?

Is there a percentage threshold for a hypothetical "bad," "standard," or "good" annual raise? I supposed a bad raise would be no raise at all and I hear a typical raise is around 3%, which barely ...
29
votes
6answers
14k views

What, if any, are the downsides of direct deposit?

After many years, my employer is offering direct deposit. I've used direct deposit before at other jobs. Are there any downsides or cons to using direct deposit?
27
votes
11answers
16k views

Is there any financial benefit to being paid bi-weekly over monthly?

I have read in many sources that it's generally better for an employee to be paid bi-weekly than monthly. I have been performing some calculations and can't see the benefit to this. Say I was on a $...
21
votes
1answer
6k views

Is income from a check taxed according to the date written or the date deposited?

Scenario Let's say I was given a check from an LLC on December 15 that was written to my LLC on that same day, and I cash it on January 15 the following year. Question Will I have to claim the ...
20
votes
4answers
9k views

What Was “A Lot of Money” In 1971?

In 1971 before the United States left the gold standard, the median home price was approximately $24,000. Now, the median home price is approximately $180,000. For people who were alive then and ...
19
votes
4answers
7k views

Paying Off Student Loans Early

I currently owe $34,558.00 in student loans ($31,000.00 principal + $3,601.83 unpaid interest accrued so far) with an average interest rate of 4.877%. I just started working full time ($70,000 GAI) ...
16
votes
3answers
6k views

What is the proper way to report additional income for taxes (specifically, Android development)?

Let's say I have a day job that contributes to the majority of my income. Now if I do some Android development (or similarly iPhone, Blackberry, or any other hobby that produces an additional income) ...
15
votes
9answers
2k views

Switch from DINK to SIWK: How do people afford kids?

Currently my wife and I both work, and we have no kids. We have no debts (besides our mortgage), live very frugally (friends call us cheap), and are roughly breaking even. We would like to have kids, ...
15
votes
8answers
1k views

What ways are there for us to earn a little extra side money?

I have done all the cost-cutting that my family can allow. It is still not enough - I spend more than I earn. This is killing the credit card and is going to be bad news for us unless we can sort this ...
13
votes
5answers
4k views

Is the money that you get back from deposits or rebates taxable?

Please help me understand if the following two items are taxable or if they should be included at all on the tax report: Rent deposit. A few years ago, when I moved in my previous apartment I put a ...
12
votes
3answers
12k views

How much would be a fair raise or salary increase to ask for at work?

I have not got a raise at work for some time - almost two years - and I think I am due. I did not ask during the crisis because other companies were laying off, etc. Mine didn't lay off, we actually ...
11
votes
1answer
590 views

How to record the finding of 10 dollars lying on the street and their subsequent placement into one's wallet (in gnucash)?

Within gnucash: within the Cash in Wallet account: description: found some money in the street transfer: Imbalance-USD or create a new arbitrary one-off account called something like "Penny Lane" or ...
10
votes
1answer
2k views

In what ways can a public company ask for money?

I'm just curious, what are the ways that a publicly traded company can ask for more money? Do they just sell shares of their company stock they own themselves, or do they issue more bonds? Are there ...
9
votes
6answers
809 views

How do I adjust to a new social class?

I've moved from a poor, working-class state to a better-developed, middle-class state in the US. Here's my problem: I'm having an extremely hard time adjusting to the price differences between the ...
9
votes
7answers
1k views

What tool would you recommend to keep track of incomes and expenses?

Part of New Year's resolutions is to keep better track of where my money is going. I have a regular day job and I also do some freelancing work online , which is not related to my regular job. In my ...
9
votes
2answers
346 views

How and where can I deposit money to generate future payments / income?

My Question. What do I deposit now, today, to pay myself $300.00 per week,i.e. $15,600.00 annually at 5% interest for 10 years? What kind of or type of financial institution do I deposit the in? A few ...
9
votes
1answer
3k views

Tax implications of roommate rent from unofficial apartment sublet

I'm currently renting a 2/2 apartment in the US that is managed by a REIT (NYSE:MAA). I set it up in which I am the sole responsible lease holder and have added a roommate to the lease as an occupant (...
9
votes
3answers
1k views

How do you model future income when doing long term planning?

One of the things I do that allows me to really get into investments, budgeting, saving money, is spreadsheeting it all out and forcasting the returns I might reap based on a given set of assumptions. ...
9
votes
2answers
369 views

Can I claim lost income if a company I invested in went out of business?

What happens when a company I invested in goes out of business? Is that declared as a personal capital loss? Does it offset capital gains elsewhere, and how do I include it in my tax filing?
8
votes
2answers
6k views

Get car loan w/ part time job as student with no credit, no-cosigner but no expenses

This is the only place where I knew to turn for a question like this. I am a student (if that will make me look better to the loan officers), but I'm fairly certain I have no credit. I took out a ...
8
votes
3answers
830 views

Risks associated with investing in dividend paying stocks for short term income. Alternatives?

I will be leaving my place of employment in the near future to run and grow my small business full-time. After assessing my expenses I'm expecting to be in the red $300-$400 a month for the next 1-2 ...
8
votes
1answer
525 views

I'm starting a new job in 20 days - can I include my future income when applying for a credit card now?

I'm starting a new job soon and moving to a new city. I've never held a credit card and want to apply for one. As with all moves there are likely to be expenses so I'd love to be able to stick them on ...
7
votes
7answers
3k views

How much capital is necessary to live on $5000 / mo.?

If I want to determine how much gross return I would need to live on $5000 / mo ($60,000 / yr) and I were to assume all return would come from an investment pool of capital in ETFs, stocks, etc, that ...
7
votes
2answers
1k views

How do I handle taxes on a very large “gift” from my employers?

My husband just received a $700,000 "gift" from the partners at the organization he has worked for for over 13.5 years. These particular partners sold their share of the partnership, making an ...
7
votes
3answers
1k views

How do I report this cash bonus/tip on income tax return?

My wife does seasonal gardening work. Her employer pays her hourly, withholds taxes, provides W-2s, etc. She does her work on a single property, and last year the owners of the property gave her an ...
7
votes
2answers
4k views

Joint ownership on home (50/50), when I apply for a loan, do they look at total mortgage payment as debt or half?

I am in joint ownership of a home (50/50). When I apply for a car loan and they are looking at my credit report, do they look at the total mortgage payment as my debt or only half? Does the credit ...
7
votes
2answers
941 views

What is the current US-Canadian agreement on withholding taxes for US Investment income?

Withholding tax credits have changed over the past few years. What is the agreement between Canada and USA related to how much can be claimed and how much must be applied for as a reimbursement?
7
votes
2answers
1k views

Am I entitled to pay if my last day falls on a holiday?

I worked for a large corporation in Texas, USA. I put in my two week notice and it just so happened that my last day fell on Good Friday. So, I was forced to turn all my equipment in on Thursday since ...
7
votes
2answers
312 views

Which tax year does a bonus fall under in Ireland?

Based on my work in 2012, my company pays me a bonus in January 2013. Should the bonus be taxed as part of 2012 income, or part of 2013 income?
7
votes
1answer
367 views

What is a good asset allocation for a 24 year old planning to do a startup?

I am planning to quit my current job and do a tech startup. How should I invest my savings of ~$210K? Assume that a fixed amount X = $2000 gets withdrawn per month and the aim is to maximize the ...
6
votes
6answers
1k views

Is being a landlord a good idea? Is there a lot of risk?

A few days ago I asked a way to generate a passive income. It seems the best I can expect is about 2k from a 50k invest at a low risk. However, if I can buy a house for 150k and rent it out, I can ...
6
votes
2answers
325 views

How to deal with variable income in the budget

We have a budget planned out for various categories, and in order to make ends meet we count on child support for my wife's child from a previous marriage. However, lately we have not been receiving ...
6
votes
1answer
193 views

When “someone makes X dollars a year in the US”, is that gross or net income?

I often hear/read the phrase "makes X dollars a year". Could you elaborate what this means? So, for instance, if someone makes 45 thousand a year (in the United States), how large is his monthly net ...
6
votes
8answers
891 views

Methods of generating additional income on top of full-time job

I am a resident of Europe. I currently work a full time job, which pays around 1.5k euro monthly. I have under 1k in savings. I just finished my 1st year of Computer Science in college. I am aiming ...
6
votes
1answer
279 views

Are reimbursements from my parents considered taxable income?

My parents use my credit card for everyday purchases and then pay me back for those purchases because it helps me earn cash back. As a result, they deposit money into my bank account every month that ...
6
votes
4answers
28k views

What percentage of my income should go towards expenses?

Graduated in May from school. Student loans are coming due here in January. Bought a new car recently. The added monthly expenses have me concerned that I am budgeting my money correctly. I currently ...
6
votes
2answers
21k views

Do I have to pay tax in US when my stay extends 183 days. I don't earn in US

I'm in US working with the parent company, my stay is about to extend 183 days. I don't get paid in US. My company in India under whose payroll I'm listed credits my Indian salary after deducting tax ...
6
votes
2answers
222 views

There have been many studies on the differences in earning-power between men and women. Have similar studies been done for race, religion or sexual orientation?

I'm curious to know if there are similar biases in the workplace - if anyone's dared to document it.
6
votes
1answer
1k views

Is tuition reimbursement considered taxable, earned income?

I am a student paying tuition to attend a University. I worked in a lab, so I received a "reimbursement" on my tuition (that is how the University denoted the compensation). Does this "reimbursement" ...
6
votes
5answers
3k views

Do I have to pay taxes on income from my website or profits?

I've started to generate a small amount of revenue on my website, I'm obviously tracking my income and expenses, but I'm not certain whether I need to declare this income to Inland Revenue. Is there ...
6
votes
1answer
379 views

No health insurance wants me, what to do?

Ive tried to apply to medicaid twice this year(2015) and both times, they have denied me. But when I try to find health insurance on the Obama Marketplace site, the private insurances block me out ...

1
2 3 4 5 6