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Factor analysis is usefully employed when it is desirable to combine several questions, thereby creating a new variable.
Taxable Income
The amount of an individual's or corporation's income used to determine how much tax is owed to the government.
Marginal Tax Rate
The percentage of tax applied to your income for every tax bracket in which you qualify.
Average Tax Rate
The fraction of an individual's total income that is paid in taxes, calculated by dividing the total taxes paid by total income.
Taxable Income
the amount of income used to determine how much tax an individual or a company owes to the government, after deductions and exemptions.
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