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What are the phases involved in program development?
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.
Taxable Income
Income that is subject to taxation, after deductions and exemptions, according to the tax laws.
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