The 'Other income' card can be used as a catch-all to enter any additional income streams that a client may have. This card gives you full control over the amount and duration of the income, as well as the tax treatment.
A critical part of the Other Income card is the ability to manually set the taxation of the income. The options for taxation on this card are:
Dividend
Earned income
Interest
Short-term capital gain
Long-term capital gain
Social Security
Minister's Housing Allowance
Tax Free
Federal Tax Credit
State Tax Credit
Common use cases for Other Income cards include Social Security Disability Insurance, federally tax-free pensions, and tax credits. All of these options will be reflected in Cash Flows > Summary > Income Inflows > Other Income column, except for 'Tax credit' which only impacts taxes. 'Minister's housing allowance' will only be subject to self-employment tax, Social Security tax & Medicare tax.
