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2. Tax expense - Wikipedia

   en.wikipedia.org/wiki/Tax_expense

   The result is a gap between tax expense computed using income before tax and current tax payable computed using taxable income. This gap is known as deferred tax. If the tax expense exceeds the current tax payable then there is a deferred tax payable; if the current tax payable exceeds the tax expense then there is a deferred tax receivable.

3. 15 Self-Employment Tax Deductions You Should Know - AOL

   www.aol.com/15-self-employment-tax-deductions...

   There are dozens of self-employment tax deductions, including advertising, retirement contributions, health insurance, self-employment tax deduction, travel expenses, business insurance, car ...

4. Adjusted Gross Income: What It Is and How To Calculate ... - AOL

   www.aol.com/adjusted-gross-income-calculate...

   It’s a factor in determining your federal tax bracket and taxable income — the portion of your income subject to federal income tax. To calculate your AGI, you subtract specific deductions ...

5. Medical Expenses You Can Deduct From Your Taxes - AOL

   www.aol.com/finance/medical-expenses-deduct...

   How To Calculate Your Tax Deduction for Medical Expenses You can deduct the amount you spend on certain types of medical care and products when that amount is above 7.5% of your AGI.

6. Tax amortization benefit - Wikipedia

   en.wikipedia.org/wiki/Tax_amortization_benefit

   When the purchaser of an intangible asset is allowed to amortize the price of the asset as an expense for tax purposes, the value of the asset is enhanced by this tax amortization benefit. [1] Specifically, the fair market value of the asset is increased by the present value of the future tax savings derived from the tax amortization of the ...

7. Tax deduction - Wikipedia

   en.wikipedia.org/wiki/Tax_deduction

   A tax deduction or benefit is an amount deducted from taxable income, usually based on expenses such as those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable ...

8. Are College Tuition and Education Expenses Tax-Deductible?

   www.aol.com/college-tuition-education-expenses...

   Here are the types of expenses that qualify for tax credits: Tuition and fees. Room and board. Books, supplies, and equipment ... You can then calculate the amount you are eligible to claim on ...

9. Taxable income - Wikipedia

   en.wikipedia.org/wiki/Taxable_income

   Taxable income refers to the base upon which an income tax system imposes tax. [1] In other words, the income over which the government imposed tax. Generally, it includes some or all items of income and is reduced by expenses and other deductions. [2] The amounts included as income, expenses, and other deductions vary by country or system.