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true or false: when estimating income, include amounts that you can control, like withholding and company-provided health insurance premiums. true false

Sagot :

The correct answer is false, while estimating income we cannot control, withholding and company-provided health insurance premium.

The money that a person or entity receives in exchange for their labor or products is referred to as income. Income can be defined differently depending on the context, such as taxation, financial accounting, or economic analysis.

Most people define income as their total earnings from wages and salaries, investment returns, pension distributions, and other receipts. For businesses, income includes revenue from selling services and products, as well as any interest and dividends received on cash accounts and reserves related to the business

Depending on the quantity being measured, there are various terms for income. Gross income is the total value of a person's salary or payments, excluding any cash outflows. Net income is the amount of money left over after deducting taxes and fees. Individual earners' discretionary income is the amount remaining after necessary expenses have been met.

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