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Income which is left after all taxes and other deductions have been subtracted out is?
Wiki User
∙ 8y ago
net income
Wiki User
∙ 8y ago
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How does the amount of tax a person pays affect the persons disposable income?
Taxes and deductions for other items are subtracted from the worker's gross pay to calculate net pay.
How does amount of tax a person pays affect the person disposable income?
Taxes and deductions for other items are subtracted from the worker's gross pay to calculate net pay.
How does the amount of tax a person pays affect the person's disposable income?
Taxes and deductions for other items are subtracted from the worker's gross pay to calculate net pay.
What are five other taxes providing government revenue besides income taxes?
tips salary income deductions
Are Individuals are taxed on the amount of their income after deductions and exemptions are subtracted from gross income.?
The tax comes out with other things in the gross income. In some cases like with a IRA or tax shelter they come out first and then the taxes. In this way the tax is lower because it brings down the gross income.
What does gross income net of taxes mean?
It means your gross income minus the net tax deductions, the tax deductions as federal income taxes, state taxes, Fica, medicare, SUI/SDI. Other taxes are not included, such as, life insurance, charity, or debts that are taken automatic from your paycheck.
What is the after tax income?
That is the money that is left after you have subtracted taxes.
On loss income money do we pay taxes taxes on it?
Generally, if you have NET income after deductions and losses, you pay tax.
Are taxes deducted from gross income or net income?
Gross income is generally your total income. Net income is what you actually end up with to pay your bills. Gross income minus taxes & other deductions (such as disability insurance) equals net income.
How do you figure out your gross income?
Gross income is all monies earned and received before deductions. ( taxes, EI, Union Dues, etc ) After deductions it is considered Net income.
What are deductions allowed when calculating federal income taxes?
The deductions allowed whe calculating federal income taxes are as follow: Mortgage interest, charitable contributions, job expense, miscellanoous expense, medical expense in excess of 7.5 of income, and payment of state and local property taxes.
What is the money someone has earned before any deductions such as taxes?
Gross income
