____ income is subject to federal taxes.

Question

Quizplus · Accepted Answer

Only taxable income is subject to federal taxes. Gross income is the total amount earned before any deductions or taxes, adjusted gross income is gross income minus certain deductions, net income is after-tax income, and take-home income is the amount received after all taxes and deductions have been withheld. Only income that is left over after deductions have been taken can be subject to taxation, which is referred to as taxable income.

____ Income Is Subject to Federal Taxes