Basically this is a question, rather than an actual list I can come up with.
This came in mind, while i'm reading this book
The millionaire Next door , by Thomas J. Stanley.
A gift from my sister for my achievements last semester.
Well, what are they?
I'll make a similiar Thread Called,
List of Unrealized/non taxable income
I'll start off,
Income made from Job earning are taxable
Capital Gains from realestate when you sell are taxable (some At this time, you can get $250,000 in profits tax-free for an individual or $500,000 for joint filers in property gains over your original purchase price if you have lived in the property as your primary residence for an agregate two of the five years prior to the sale.) ===edited
Selling Stocks taxable
Selling Mutual Funds/Dividend (thats why you should use DRIP*) ==== added
Estate Tax - what is the limit so its going to be gift instead???
*DRIP = Dividend reinvestment plan
I think this would help on people that wants to start investing/saving money in the long run; which the book indicates i should start doing
