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What else can I help you with?
What is the after tax income?
That is the money that is left after you have subtracted taxes.
Income which is left after all taxes and other deductions have been subtracted out is?
net income
What is the difference between above the line deductions and below the line deductions?
Above the line deductions are subtracted from a person's gross income to calculate adjusted gross income, while below the line deductions are subtracted from adjusted gross income to determine taxable income.
Expenses that can be subtracted form gross income?
Deductions
What form lists the standard deductions that can be subtracted from a persons income?
1040EZ
Which term is usually applied to the amount of money left from income after taxes have been subtracted?
Isn't that your net income?
Is rent paid by an employer considered taxable income?
Yes, rent paid by an employer is generally considered taxable income for the employee.
What form lists the standard deductions that can be subtracted from a person taxable income?
1040EZ
Is a severance package considered income?
Of course it is. It is income from the employer and thus will be taxes as ordinary income.
What does federal withholding mean?
When you earn income from an employer, the employer automatically withholds a portion of your salary for federal income taxes, which they remit to the government on your behalf.
Why is the employer holding more fed taxes out of paycheck in 2010 than 2009?
Probably because the withholding rates were changed. You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc they will have to withhold from your hourly pay or gross pay for the pay period. After the withheld amount for all taxes is subtracted from your gross wages (earned income) your paycheck will issued for the net amount of your earning (wages).
What is the net income of a postdoc after tax deductions?
The net income of a postdoc after tax deductions is the amount of money they take home after taxes have been subtracted from their gross income.
