Wow! Non-Taxable Income!

To contact us Click HERE
By Roger Chartier:

A List Of Some Non-taxable Income

Here is something I was told by the IRS today.
Although most income you receive is taxable and must be reported on your federal income tax return, there are some instances when income may not be taxable.
The IRS offers the following list of items that do not have to be included as taxable income:

• Adoption expense reimbursements for qualifying expenses
• Child support payments (those you receive)
• Gifts, bequests and inheritances
• Workers' compensation benefits (some exceptions may apply; see Publication 525, Taxable and Nontaxable Income)
• Meals and lodging for the convenience of your employer
• Compensatory damages awarded for physical injury or physical sickness
• Welfare benefits
• Cash rebates from a dealer or manufacturer

It all sounds like a good idea to me. So I guess I need some serious influx of gifts, inheritances and cash rebates ...yessiree that would make me smile!