Taxable Income

What does Taxable Income mean?

Taxable income is the amount of a taxpayer's income used to calculate the tax liability owed to the Internal Revenue Service or state taxing authority. Taxable income is a taxpayer's gross income minus certain allowed expenses, deductions, and exemptions as defined by the Internal Revenue Service.

A taxpayer's taxable income is determined through the filing of a tax return by the individual taxpayer. In calculating taxable income, the taxpayer must follow the rules as defined by the Internal Revenue Service. The Internal Revenue Service provides various forms that a taxpayer must use to determine taxable income and thereby tax liability each tax year.

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Versatile Tax Services LLC

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3000 Joe Dimaggio Blvd., Suite 76
Round Rock, TX 78665

Tax Attorney OC

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17702 Irvine Boulevard
Suite 200 Tustin, CA 92780

Silver Tax Group

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26700 Lahser Road, Suite #400
Southfield, MI 48033

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Able-bodied

Able-bodied refers to individuals who are mentally and physically strong and healthy, not disabled, able to work, and able to complete other daily tasks without help from others

Category: Disability