To install click the Add extension button. That's it.

The source code for the WIKI 2 extension is being checked by specialists of the Mozilla Foundation, Google, and Apple. You could also do it yourself at any point in time.

4,5
Kelly Slayton
Congratulations on this excellent venture… what a great idea!
Alexander Grigorievskiy
I use WIKI 2 every day and almost forgot how the original Wikipedia looks like.
Live Statistics
English Articles
Improved in 24 Hours
Added in 24 Hours
Languages
Recent
Show all languages
What we do. Every page goes through several hundred of perfecting techniques; in live mode. Quite the same Wikipedia. Just better.
.
Leo
Newton
Brights
Milds

Taxable income

From Wikipedia, the free encyclopedia

Taxable income refers to the base upon which an income tax system imposes tax.[1] Generally, it includes some or all items of income and is reduced by expenses and other deductions.[2] The amounts included as income, expenses, and other deductions vary by country or system. Many systems provide that some types of income are not taxable (sometimes called non-assessable income) and some expenditures not deductible in computing taxable income.[3] Some systems base tax on taxable income of the current period, and some on prior periods. Taxable income may refer to the income of any taxpayer, including individuals and corporations, as well as entities that themselves do not pay tax, such as partnerships, in which case it may be called “net profit”.

Most systems require that all income realized (or derived) be included in taxable income. Some systems provide tax exemption for some types of income.[4] Many systems impose tax at different rates for differing types (e.g., capital gains or salaries) or levels of income (e.g., graduated rates). In the United States, gross income includes all income realized from whatever source, but excludes particular tax exempt items, such as municipal bond interest. In 2010, the United Kingdom and the United States both provided reduced rates of tax for capital gains and dividends.

Most systems and jurisdictions allow businesses to reduce taxable income by cost of goods or other property sold, as well as deductions for business expenses.[5] Many systems limit some sorts of business deductions. For example, deductions for automobile expenses are limited in the United Kingdom and United States.

Some systems allow tax deductions for certain nonbusiness expenses (sometimes called personal or domestic expenses).[6] Such outlays may include personal expenses, such as a home mortgage interest deduction, and vary widely by jurisdiction. In addition, many systems only levy taxes on earnings above an income tax threshold, allow deductions for personal allowances or a minimum deemed amount of personal deductions. The United States federal tax system allows a deduction for personal exemptions, as well as a minimum standard deduction in lieu of other personal deductions. Some states in the United States allow few personal deductions.

YouTube Encyclopedic

  • 1/3
    Views:
    21 851
    80 127
    64 404
  • How to Calculate Federal Income Tax
  • Kuya Ralph's Taxation Made Easy: Computing Income Tax for Individuals
  • Computation of Income Tax by Vijay Adarsh | Stay Learning | (HINDI)

Transcription

See also

References

  1. ^ Reporting income, Retrieved December 4, 2013
  2. ^ What is taxable income?, January 23, 2012, Retrieved December 4, 2013
  3. ^ Allowable Deductions Archived 2014-02-17 at the Wayback Machine., Retrieved December 4, 2013
  4. ^ Income tax exempt funds Archived 2013-11-30 at the Wayback Machine., Retrieved December 4, 2013
  5. ^ Business income, deductions and tax returns, Retrieved December 4, 2013
  6. ^ Sec. 1.212-1 Nontrade or nonbusiness expenses, Retrieved December 4, 2013

External links

This page was last edited on 25 November 2018, at 03:51
Basis of this page is in Wikipedia. Text is available under the CC BY-SA 3.0 Unported License. Non-text media are available under their specified licenses. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc. WIKI 2 is an independent company and has no affiliation with Wikimedia Foundation.