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SashulF [63]
3 years ago
6

Match the different categories of income to the calculation used to derive them.

Business
2 answers:
zhuklara [117]3 years ago
5 0

Answer:

Adjusted Gross Pay=Gross pay – deductions  

Taxable income=Adjusted Gross pay-tax

Disposable income=taxable income- taxes

Savings=Disposable income-personal spending

Explanation:

Kisachek [45]3 years ago
3 0

Answer

Adjusted Gross Pay=Gross pay – deductions (blank)

Taxable income=Adjusted Gross pay-tax (blank)

Disposable income=taxable income- taxes (blank)

Savings=Disposable income-personal spending (blank)

Explanation

Adjusted gross income (AGI) is the individual income subtracting the deductions. To calculate the AGI we first start with finding the gross income which is a reflection of all the income a person receives over the course of a year. This step will be followed by subtracting the adjustments made such as student loan payments and contribution. This will leave you with the adjusted gross income.

Taxable income is the amount remaining after subtracting the deductions and claiming exemptions from your adjusted gross income. It is used to find the amount of money a person /firm owes to the government in a particular tax year. It is calculated as all your incomes reduced by expenses and other deductions.

Disposable income is money available for usage and saving in a household after subtracting the income taxes. It is also called your net pay. Disposable income is an indicator of the economy in that, it determines consumer spending and determines the demand of goods and services acquired at various prices and a particular time period.

The money left over from the salary after paying government taxes can be spent or saved.When you subtract your spending from the disposable income, you get the savings that a person keeps for future use or investments. Personal savings are calculated by subtracting your personal consumption from the personal disposable income.


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Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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