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________ clauses require the buyer to pay the full amount of the remaining loan balance or to finance the balance at prevailing interest rates.
Taxable Income
The amount of income that is subject to income tax after deductions and exemptions.
Deductions
Amounts that are subtracted from gross income when calculating taxable income, including expenses, allowances, or specific exemptions.
Exemptions
Specific allowances that relieve individuals, organizations, or products from fulfilling certain conditions or requirements, often for taxes or regulations.
Personal Income Tax
A tax levied on individuals or households based on their total income from various sources, including wages, salaries, and investments.
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