Examlex
Trait appraisals are of questionable validity because an evaluator's personal biases can affect ratings.
Gross Income
The total income from all sources before any deductions or taxes are taken out.
Standard Deduction
A fixed amount deducted from a taxpayer's income to reduce taxable income, not requiring itemization.
Taxable Income
The amount of income that is subject to taxation, after all deductions and exemptions are factored in.
Itemized Deductions
Potential reductions to income allowed for certain payments made during the tax year.
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