Free 2018 Tax Planning2019-01-05T15:05:52+00:00

Free 2018 Tax Planning

Taxable Income

Taxable income is the income that is taxed. In other words this is your:

  1. Adjusted gross income
  2. Less the higher of the standard or itemized deduction

You can see that you don’t get taxed on 100% of your income but are allowed certain deductions.