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What else can I help you with?
What is gross income minus any adjustments deductions and exemptions?
taxable income :)
Gross income minus any adjustments deductions and exemptions is?
taxable income :)
Is total taxable income the same as total income?
No, total taxable income is not the same as total income. Total income includes all sources of income, such as wages, interest, dividends, and capital gains. Total taxable income, on the other hand, is the portion of total income that is subject to taxation after deductions, exemptions, and adjustments are applied. Therefore, total taxable income is typically lower than total income.
What kind of income tax is based on your taxable income?
Income tax IS based on your income that is why it is called INCOME tax.
How can I determine my taxable income?
Taxable income is the total amount of your income that is taxable. Certain types of income are exempt from taxes, but most income is taxable. To find out more information about taxable income, go to http://en.wikipedia.org/wiki/Taxable_income
Is taxable income less IRS allowable adjustments to income called FICA?
NO. The FICA taxes is NOT a adjustment to your gross income earnings to arrive at your TAXABLE INCOME amount that will be on the 1040 federal tax form page 2 line 43.
What is gross income minus any adjustments deductions and exemptions?
taxable income :)
Gross income minus any adjustments deductions and exemptions is?
taxable income :)
What is the difference between AGI, MAGI, and taxable income?
AGI (Adjusted Gross Income) is the total income you earn in a year minus certain deductions. MAGI (Modified Adjusted Gross Income) is AGI with certain additional adjustments. Taxable income is the amount of income that is subject to taxation after deductions and adjustments.
Is travel reimbursement taxable?
Yes, travel reimbursement can be taxable depending on the circumstances. If the reimbursement is for personal travel or exceeds the allowable IRS limits, it may be considered taxable income.
What kind of income tax is based on your taxable income?
Income tax IS based on your income that is why it is called INCOME tax.
Is kinship income taxable income?
No it is not taxable
How can I determine my taxable income?
Taxable income is the total amount of your income that is taxable. Certain types of income are exempt from taxes, but most income is taxable. To find out more information about taxable income, go to http://en.wikipedia.org/wiki/Taxable_income
Is Avon income taxable?
ALL income is taxable.
Are income tax and taxable income the same thing?
No, income tax and taxable income are not the same thing. Taxable income is the amount of income that is subject to taxation, while income tax is the actual tax that is calculated and paid on that taxable income.
Are bonuses taxable?
Yes, Bonuses are income and income is taxable
What is the best definition of taxable income?
For Federal income tax purposes, taxable income is the portion of a taxpayer's gross income on which his regular income tax liability (before payments and credits) for the year is based. Income from any given source is taxable, unless the Code specifically says it isn't taxable. Calculation: Taxable income starts with gross income, which according to the US Internal Revenue Code, is all income from whatever source derived. Gross income is then reduced by certain adjustments allowed by the IRS (e.g. for student loan interest, alimony paid, and 10 or so other specific items) to get adjusted gross income. Adjusted gross income is then reduced by exemptions (both personal and for any dependents) and itemized deductions (or the standard deduction) to arrive at taxable income.
