Tag: deductions
Tax Deferred
DefinitionTax deferral refers to instances where a taxpayer can delay paying taxes to some future period. In theory, the net taxes paid should be...
Tax Bracket
DefinitionTax brackets are the divisions at which tax rates change in a progressive tax system. Essentially, they are the cutoff values for taxable income...
Tax Expense
DefinitionA company's tax expense, or tax charge, is the income before tax multiplied by the appropriate tax rate. Generally, companies report income before tax...
Take-Home Pay
What is a 'Take-Home Pay' Take-home pay is the money that an employee actually receives from working after employment taxes and the...
Tax Deduction
What is a tax deduction and how does it work
A tax deduction is an expense that can be subtracted from your taxable income. This...
Job Hunting Expenses
What is 'Job Hunting Expenses' Costs that individuals may be allowed to deduct on their federal tax returns to reduce their total...