Posts Tagged ‘taxable income’

Taxable Income is…

Friday, June 3rd, 2011

Taxable income equals the portion of your earnings the government is allowed to tax. Most income is taxable, so if you have a job, odds are that whatever money you make at that job counts as taxable income.

Things that are tax-deductible, like most charitable donations, reduce the amount of your taxable income and so may reduce your tax bill.