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Taxes From A To Z (2015): D Is For Disability Income
When you miss work due to an injury or disability, you may receive compensation in the way of disability income from an employer’s insurance, health plan, or pension plan. Under the Tax Code, all income is taxable unless otherwise excluded. When figuring whether your disability income is taxable, you’ll want to start there. Assume that it’s taxable unless there’s a specific exemption or exception. Read more…
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