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Instructions: Identify the Following

question 1

Short Answer

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Alta California


Definitions:

Joint Return

A combined tax return filed by married couples who choose to report their incomes, deductions, and credits on the same return.

Taxable Income

The amount of an individual's or company's income used to determine how much tax is owed, calculated as gross income minus deductions and exemptions.

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.

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