What is a gross income minus deductions?
It gives net income.
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Answer . I think it was about 1986...the Regan years...that the law was changed and interest that wasn't part of a mortgage stopped being deductible.
Pay including all benefits is called a gross pay. However, after deductions carried, it may be termed as "NET" pay or 'take home salary'.
its your taxable income
Does an expenditure that is classified as a deduction from adjusted gross income produce the same tax benefits as an expenditure that is classified as a deductions for adjusted gross income?
You should review your Q...there is no difference in what your asking.
The (PPP) per capita GDP of United States is $46,381.
Can a parent give a monetary gift of 13000 cash to and adult child and deduct if from their gross income?
No deduction on your income tax return for gifts to anyone.
In Income Taxes
I suspect you're talking about AGI, Adjusted Gross Income.
Yes, gross profit minus expenses equal to net income as provedby following: . Sales xxxx . less: . Cost of sales xxxx . Gross profit xxxx . Less: . Admin & Selling expen…ses xxxx . Other expenses xxxx . Net Income xxxx
Generally, no. Gross receipts are proceeds from sales, service contracts or the company's main revenue stream. Total income from all sources may include collected interest, ro…yalties, or dividends from subsidiaries, which are not directly related to the company's main business.
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 ins…urance) equals net income.