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No. Your gross income is reported on your federal 1040 income tax return. The federal garnish amount that was paid would not be a deduction from your gross income on your income tax return.
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Individual income tax provides the largest source of government income. In 2014, it was 46 percent of the total and 8 percent of gross domestic product (GDP).
The total of all of your GROSS WORLDWIDE INCOME would be your GROSS INCOME that will be reported on your 1040 federal income tax return. That is every amount that is income to you for the tax year.
Your employer payroll department would have to give you the correct percentage that they will be withholding for all of your federal taxes that they will be required to withhold from your gross income.
This past year, it was about 15% of gross income.
Deductions amounts on your 1040 federal income tax return will reduce your gross income amount and decrease your amount of gross income and will cause you to have a smaller amount TAXABLE INCOME and lesser federal income tax liability when your income tax return is completed correctly.
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.
the gross income of ginger hughes is 215 per week her deductions are 15.16fica tax 29.33 income tax 2 percent state tax 1 percent city tax and 3 percent retirement fund what is her net income?
8%
Federal Income tax (FIT) withheld from your gross wages.