In determining whether your Social Security benefits are subject to income tax, the IRS uses combined income. To figure your combined income, start with your adjusted gross income, and then add your nontaxable interest and dividends plus half of that year's Social Security benefit amount.he Social Security Administration does not count traditional IRA distributions as income in calculating your annual benefit amounts, but the Internal Revenue Service does count the same distributions in figuring your tax liability. Neither agency counts Roth IRA distributions as income.
DEFINITION of 'Charge-Off'. A term describing an expense on a company's income statement. A charge-off will fall under one of the following categories: 1.A debt that is deemed uncollectible by the reporting firm and is subsequently written off. This type will be classified as 'bad debt expense' on the income statement, and removed from the balance sheet. charge-off will fall under one of the following categories: 1. A debt that is deemed uncollectible by the reporting firm and is subsequently written off. This type will be classified as 'bad debt expense' on the income statement, and removed from the balance sheet.
1 Talk to the collection agency: Paying off a collection debt wonât delete a charge off from your credit report, but you can ask the agency to remove their collections record from your report as part of the negotiation for paying your debt.2  This will have a more positive affect on your financial record.ven after a creditor writes off your debt, you are still responsible for payment. A creditor can use in-house staff or a collection agency to try to recoup their rightful payment. It is in your best financial interest to attempt to remove charge offs from your credit report.