Examlex
A four-year-old disadvantaged child living in the inner city would probably be eligible for
Taxable Income
The amount of an individual's or corporation's income used to determine how much tax is owed, calculated as gross income minus deductions and exemptions.
Energy-Efficient Furnace
A heating system designed to use less energy for the same level of heating comfort compared to less efficient models.
Exemption
Information included on tax forms that lowers taxes; exemptions include dependents as well as the taxpayer.
Taxable Income
The portion of income used to calculate how much tax an individual or a corporation owes to the government, after all deductions and exemptions.
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