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What is taxable income and how do you know how much taxes are owed?
Taxable income is the portion of income that is the subject of taxation according to the laws that determine what is income and the taxation rate for that income. [ Generally, taxable income refers to an individual's (or corporation's) gross income, adjusted for various deductions allowable by statute. ]
Expert answered|mitchiex|Points 20|
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Asked 10/10/2010 8:19:23 PM
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