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Revision as of 07:22, 15 October 2024
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There's a change between, "gross income," and "taxable income." Revenues is simply how much you actually make. taxable income is what federal government bases their taxes everything from. There are plenty of things you can subtract from your gross income to offer a lower taxable income. For most people, within this game is to learn and use as these types of as possible, so perform minimize your tax exposure to it.
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For my wife, she was paid $54,187, which she isn't taxed on for Social Security or Healthcare. My wife to put 14.82% towards her pension by law, making her federal taxable earnings $46,157.
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