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Earned Income
Income derived from active participation in a business, including wages, salaries, tips, and net earnings from self-employment.
Elderly or Disabled
Elderly or Disabled refers to tax terms that qualify individuals for certain tax deductions or credits based on their age, typically over 65, or if they have a qualifying permanent disability.
Base Amount
Refers to a reference value used in calculations, often determining thresholds or limits in tax and financial contexts.
Credit Calculation
Credit calculation involves determining the amounts for tax credits a taxpayer is eligible for, which can directly reduce the amount of taxes owed.
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