Knowledge is Power!

Sign-up for valuable information and get the tools you need to make smart tax and financial decisions. 

DID YOU KNOW?

  • The amount of debt forgiven by a creditor (e.g. a credit card company) is considered taxable income for the debtor (person who owes the debt)?
  • Scholarship and grant funds which are used to pay for room and board can be considered taxable income to the student?
  • Unemployment benefits are taxable?
  • Withdrawal of pension/retirement funds before the age of 59 1/2 will result in a tax penalty of 10%?
  • Making contributions into an IRA after age 70 1/2 will result in a tax penalty?
  • Trading a service/product for a service/product (bartering) is a taxable transaction?
  • Income from a hobby is taxable?
  • Alimony is taxable income for the person receiving it?
  • Bitcoin (virtual or digital currency) is taxable?
  • Jury pay is taxable?

AVOID TAX DEBT
If you didn’t know these important facts, consider signing-up for Hawaii VITA’s important tax tips which will cover tax debt prevention, provide education on tax credits and much more. You can also follow Hawaii VITA’s Tax Tips on twitter @HawaiiTaxHelp

Knowledge is Power!

Sign-up for valuable information and get the tools you need to make smart tax and financial decisions. 

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