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.
The charge-off will remain on your credit report for seven years from the date it was charged-off. Paying the charged-off balance in full won't remove it from your credit report. Instead, it will be updated with a status of Charged-Off Paid if you paid in full or Charged-Off Settled if you settled the debt and the account will show a $0 balance.