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.
Paying off a charge off does not remove it from the credit report and there can be loans available to. This is a tough one. Paying off charge offs does not remove them from your credit reports.The original creditor is pretty much out of the picture at this point. And making a payment now could extend the statute of limitations by another four or five years (depending on the SOL for those debts).aying off charge offs does not remove them from your credit reports. The original creditor is pretty much out of the picture at this point. And making a payment now could extend the statute of limitations by another four or five years (depending on the SOL for those debts).