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What is Gross income after certain deductions are calculated is called?
MacJay
I suspect you're talking about AGI, Adjusted Gross Income.
Wiki User
∙ 13y ago
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The total income of an individual minus certain deductions and personal exemptions is called?
its your taxable income
How is net income calculated?
Net income is your income after all deductions like tax, union dues, company health insurance, etc. This is the money you can take and put in the bank.So if your gross income is 1000 and you have 200 in deductions, then your net income is 800.
What is the difference between gross income net income and taxable income?
Gross income is the raw income earned while net income is after deductions of interest taxes while taxable income is that income on which tax is calculated.
What is the formula for calculating taxable income?
Gross Income - Above the Line Deductions = Adjusted Gross Income - (Deductions +Exemptions)= Taxable Income
What is it called Total amount of pay before deductions?
The total amount of pay before deductions is the amount before taxes are taking out. This is the gross income.
The total income of an individual minus certain deductions and personal exemptions is called?
its your taxable income
How is net income calculated?
Net income is your income after all deductions like tax, union dues, company health insurance, etc. This is the money you can take and put in the bank.So if your gross income is 1000 and you have 200 in deductions, then your net income is 800.
What is the difference between gross income net income and taxable income?
Gross income is the raw income earned while net income is after deductions of interest taxes while taxable income is that income on which tax is calculated.
How do I change the deductions on NYS Income tax?
How do I change the deductions on NS income taxt?
What is the formula for taxable income?
Gross Income - Above the Line Deductions = Adjusted Gross Income - (Deductions +Exemptions)= Taxable Income
What is the formula for calculating taxable income?
Gross Income - Above the Line Deductions = Adjusted Gross Income - (Deductions +Exemptions)= Taxable Income
What is it called Total amount of pay before deductions?
The total amount of pay before deductions is the amount before taxes are taking out. This is the gross income.
What do you call income before deductions?
Gross income.
How can you calculate deductions?
I am not sure what you mean by calculating deductions. You enter your deductions on Federal Schedule A. In some cases, you enter deductions directly on the schedule to which they apply, like Schedule E. There are a few special deductions called "adjustments to income" that you enter at the bottom of the front side of Form 1040.
What is a gross income minus deductions?
It gives net income.
How do income tax laws affect payroll deductions?
Income taxes affect payroll, because it is the amount of money that is taken out of each check. Income tax must be paid by every working citizen.
What is Take home pay is equal to?
gross income - (required deductions + optional deductions)
