Income Tax Fundamentals and Calculations - Introduction

In this section, we will be examining the fiver different types of filing statuses available to individuals and familes, inclusions, exclusions, and types of adjustments that applied to gross income. Additionally, we will touch on deductions, types of exemptions, liabilities, credits, and methods of tax payment. Filing Status


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  5. Tax Break

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  6. Tax Deduction

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RELATED FAQS
  1. What deductions, credits and exemptions depend on gross income calculations?

    Understand what deductions, exemptions and tax credits are dependent on the gross income calculation and how these determine ... Read Answer >>
  2. What is the difference in tax liability between gross income and other kinds of income?

    Find out how the U.S. government taxes worker's earnings, whether it is gross income or income exempted or excluded from ... Read Answer >>
  3. What are the differences among gross income, adjusted gross income and modified adjusted ...

    Discover how calculating total taxable income is easier when gross income, adjusted gross income and modified adjusted gross ... Read Answer >>
  4. What is the difference between taxable income and gross income?

    Understand the basic differences between the terms gross income and taxable income, and what is included in the total of ... Read Answer >>
  5. Are gross sales and taxable gross sales the same thing?

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  6. What is the difference between gross income and earned income?

    Being able to distinguish between earned income and gross income is an important tool in preparing for and filing your individual ... Read Answer >>
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