Examlex
Write as a product of linear factors.
Total Income
The aggregate amount of income earned by an individual or entity from all sources before any deductions or taxes.
Deductions
Expenses that can be subtracted from gross income to reduce taxable income, such as mortgage interest, medical expenses, and charitable contributions.
Tax Credit
A direct reduction in tax liability, not merely a reduction in taxable income, that can decrease the amount of taxes owed.
Tax Deduction
A reduction in taxable income for certain expenses, allowing individuals or entities to pay less tax.
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