Examlex
Which one of the following best describes Piaget's notion of equilibration?
Standard Deduction
A predefined tax deduction that reduces the income subject to tax, available to all taxpayers who do not itemize deductions.
Joint Return
A tax return filed by a married couple who combine their income, deductions, and credits on a single form.
Taxable Income
Income that is subject to taxation, after deductions and exemptions, according to the tax laws.
Standard Deduction
The standard deduction is a fixed dollar amount subtracted from an individual's income before income tax is calculated, reducing taxable income.
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