What Are Two of the Five Key Points to Note

question 11

Essay

What are two of the five key points to note for effective goal setting?

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Definitions:

Income Tax

Taxes that are based on the amount of taxable income that you earn.

Earned Income

Income derived from active participation in a business or trade, typically including wages, salaries, commissions, and tips.

Unearned Income

Refers to money received that does not come from employment, work, or business activities, such as dividends, interest, or government benefits.

Medical Deduction

An itemized deduction on personal income taxes for expenses related to healthcare beyond a certain percentage of adjusted gross income.