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You don't pay tax on the tax-free pay and you do pay tax on taxable income
An expense is money you pay to but something, a good or a service.A loss is when you balance expenses against income and find out that there was less income than your expenses.
Gross profit is the total money you made. Net income is what is left of that money after you pay all your expenses: Heat, light, employee salaries, insurance, etc.
The difference between gross pay and net pay is that gross pay is the amount that you receive before tax deductions and pay net is the money you take home after all the tax deductions
The income tax is what is paid by "withholding of tax" from someones payment/pay. Other taxes or charges, like insurance, worker comp, etc may be [apd by withholding the amount from payment/payroll. There is really no such thing as a tax on withholding.
You don't pay tax on the tax-free pay and you do pay tax on taxable income
You pay tax on taxable income and you don't on tax free income
Your gross income is your income before anything is taken out. Your net income is your remaining income after deducting taxes and expenses--so on your paycheck, your net is your "take home pay".
Income taxes are used for a wide variety of government activities while payroll taxes pay for specific programs.
An expense is money you pay to but something, a good or a service.A loss is when you balance expenses against income and find out that there was less income than your expenses.
Radio stations generate income from companies who pay to have their adverts on the radio. The difference between this income and the costs the radio station have, mostly people costs, is the profit
Income taxes are used for a wide variety of government activities while payroll taxes pay for specific programs.
Gross profit is the total money you made. Net income is what is left of that money after you pay all your expenses: Heat, light, employee salaries, insurance, etc.
can u pls give me the difference between basic and net pay
Yes, you can roll a regular IRA into a Roth IRA. You pay income tax on the amount you withdraw from the regular IRA, but do not have to pay a penalty for early withdrawal if you roll the money directly into the Roth IRA.
Nothing.
The difference between gross pay and net pay is that gross pay is the amount that you receive before tax deductions and pay net is the money you take home after all the tax deductions