tax-free income
Non-taxable money received
Tax-free income is money received that is not subject to income tax.
Common examples include certain municipal bond interest, gifts below threshold amounts, and some insurance payouts.
The designation varies by jurisdiction and tax code, so what counts as tax-free in one country may be taxable in another.
She invested in municipal bonds for the tax-free income.
- tax codeLaws governing taxation
- tax breakReduction in owed amount
- municipal bondsLocal government debt securities
- tax exemptionFreedom from governmental levies
- tax shelterLegal income-shielding arrangement
Roth IRA · charitable trust · offshore accounts · take-home pay · tax bracket · deductions · allowances · tax reform · tax treaty · rebates · retirement account · nest egg · credits · financial planning · rainy day fund · revenue service · tax audit · fringe benefits
- tax-free incometax-exempt, Roth IRA, life insurance proceeds, child support, inheritances
tax-free incometaxable income
Earnings subject to taxation
taxable earnings · taxable wages · ordinary income · earned income · gross income
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