Money taken out of a salary for such things as taxes, medical insurance, and retirement funds is called

Business

2 answers:

Andre45 [30]3 years ago

5 0

A. deductions as these are the items that are deducted from your salary.

zloy xaker [14]3 years ago

4 0

Money taken out of a salary for such things as taxes, medical insurance, and retirement funds is called "deductions".

A deduction is any thing or expenditure subtracted from gross pay to lessen the measure of pay subject to pay charge. It is additionally alluded to as a "passable derivation." For instance, on the off chance that you acquire $50,000 and guarantee a finding for $1,000, your assessable salary is decreased to $49,000.

A deduction ought not be mistaken with a tax credit, which lessens the measure of expense owed as opposed to decreasing your taxable pay.

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