Since this time of year has many of us dads scrampling to finish our federal tax returns (as well as state and local) in the USA, I thought I would highlight a few areas of “other income” the Internal Revenue Service reminds us to report on our tax returns.

Lest you think I made these up, you can actually read these on the IRS Publication 17 webpage.

Bribes. If you receive a bribe, include it in your income.

Illegal activities. Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.

Kickbacks. You must include kickbacks, side commissions, push money, or similar payments you receive in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040), if from your self-employment activity.

Stolen property. If you steal property, you must report its fair market value in your income in the year you steal it unless in the same year, you return it to its rightful owner.

LOL. You just never know what helpful insights you might get by reading the FamilyDads emails?! 

Seriously, let me encourage you to not wait till the very last minute to get your taxes done, and be extra careful not to vent stress on your family if you are still working on your return or find you owe more than expected.

And of course, have complete integrity on your tax return. After all, it’s only money.

“…Give to Caesar what is Caesar’s and to God what is God’s.” (Matt 22:21, Mark 12:17, Luke 20:25)

At this time of year, as if there’s not enough going on already, many of us dads have one more thing added to our list of deadlines… TAXES!

As someone who has experience in bookkeeping, I thought I would highlight a few areas of “other income” the IRS reminds us to report on our tax returns: 

Bribes.  If you receive a bribe, include it in your income.

Illegal activities.  Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.

Kickbacks.  You must include kickbacks, side commissions, push money, or similar payments you receive in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040), if from your self-employment activity.

Stolen property.  If you steal property, you must report its fair market value in your income in the year you steal it unless in the same year, you return it to its rightful owner.

LOL. Now I know you’re thinking this was an April Fools joke, but here is a link to the actual IRS Publication 17 webpage. You just never know what helpful insights you might get by reading the FamilyDads emails, eh?!  :-)

Seriously, let me encourage you to not wait till the last minute to get your taxes done. And of course, have complete integrity on your tax return. After all, it’s only money.

“…Give to Caesar what is Caesar’s and to God what is God’s.” (Matt 22:21, Mark 12:17, Luke 20:25)