Discretionary income is your income you have left over paying taxes and taking care of your necessities for living. Discretionary income can be determined by keeping track of how you're spending money ...

Amanda Bellucco-Chatham is an editor, writer, and fact-checker with years of experience researching personal finance topics. Specialties include general financial planning, career development, lending ...

Filing taxes can be daunting, even overwhelming. Whether you file with help from a professional or on your own, calculating precisely what you owe to the Internal Revenue Service, or what the IRS owes ...

Income tax is charged on most types of income but tax allowances protect some from the taxman. If you earn money from a job, you will have to pay tax once you breach the tax-free allowance. If you get ...