Examlex
One component of alienation that Melvin Seeman identified was:
Taxable Income
Taxable income is the amount of income used to calculate how much tax an individual or a company owes to the government in a given tax year.
Standard Deduction
A fixed amount that taxpayers can subtract from their taxable income, reducing the tax they owe, without itemizing deductions.
Taxable Income
Income subject to taxation, after adjustments, deductions, and exemptions are accounted for.
Itemized Deductions
Expenses listed individually on a tax return that can be subtracted from adjusted gross income to reduce taxable income.
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