What is taxable income?
Taxable income refers to a person’s gross income (total income) minus any allowable deductions they might be eligible for. The videos below will show you how to answer questions on taxable income in Prelim Standard Math.Â
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How do you calculate taxable income?
The video below explains how to calculate taxable income when we know their gross salary and allowable deductions.
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How to calculate taxable income by taking taxable deductions from gross income
The following video explains how to calculate taxable income when finding taxable incomes and misusing from their gross income.
How to calculate taxable income by first calculating the taxable deductions and misusing from gross pay
Similar to the videos above, the video below will show you another example of calculating taxable income by finding taxable deductions and solving for gross pay.
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