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What is the difference between deduction for AGI and deduction from AGI?
The difference between deduction for AGI and deduction from AGI is that deduction for AGI reduces your total income before calculating your adjusted gross income, while deduction from AGI reduces your adjusted gross income after it has been calculated.
What is Deduction from gross total income?
http://wiki.answers.com/Q/What_is_Deduction_from_gross_total_income"
What all deductions are needed for gross salary?
Gross salary means the total salary BEFORE any deductions are taken, so the answer is no deductions.
How do you print out your pay slips from Manpower?
the total gross pay plus tax deduction
What is gross and net receipts?
Gross receipts are the total of all sales with out the deduction of any expenses. Net receipts are the gross receipts minus returns, allowances and discounts.?æ
What percentage of gross income is deducted for medicare?
For 2012, the Social Security (FICA) deduction is 6.2%; the Medicare deduction is 1.45%, for a total of 7.65%. The employer pays the same percentages.
What are salary tips and interest earned all included in?
Gross total income
Salary tips and interest earned are all included in .?
Gross total income
Does gross salary include employer's contribution to the PF of the employee in India?
In India, gross salary typically refers to the total earnings of an employee before any deductions, including basic salary, allowances, bonuses, and other benefits. The employer's contribution to the Provident Fund (PF) is not included in the gross salary; it is considered a separate benefit. Consequently, while the employee's own PF contribution is deducted from their gross salary, the employer's contribution is an additional amount provided by the employer.
What is gross income?
In almost all cases, this is your "total" (or gross) income, before taxes or other with-holdings. If you are paid hourly, this is your total hours worked x rate of pay. If you are on salary, it is your salary, rather than your actual take home pay.
What is a total deduction?
A total deduction refers to the total amount that can be subtracted from an individual's or business's gross income to reduce taxable income. This figure is calculated by summing all allowable deductions, such as expenses, contributions, or credits, that meet tax regulations. The resulting taxable income is then used to determine the amount of tax owed. Total deductions can significantly lower the overall tax burden.
What is the difference between gross sales and gross receipts as far as an audit is concerned?
GROSS RECEIPTS is the total amount received prior to the deduction of any allowances, discounts, credits, etc. GROSS REVENUE is income (at invoice values) received for goods and services over some given period of time. GROSS SALES is the total revenue at invoice value prior to any discounts or allowances. Gross Receipts = Gross Revenue = Gross Receipts They are all the same thing, which is the total amount of revenue that a business generates during a year prior to taking any discounts, allowances, etc. Gross Sales - COGS = Gross Profit Gross Receipts - COGS = Gross Profit Gross Revenue - COGS = Gross Profit
