Tag: taxable
Tax Drag
What is 'Tax Drag' The reduction of potential income due to taxes. Drag describes the loss in returns owing to taxation, usually...
Tax Base
What is a tax base and why is it important
A tax base is the total value of all taxable property in a jurisdiction. This...
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...
Earned Income
What is 'Earned Income' Earned income is income derived from active participation in a trade or business, including wages, salary, tips, commissions...
Gambling Income
What is gambling income and how is it taxed
Gambling income is defined as any money or prizes won from gambling activities, such as playing...