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How Taxes Are Calculated | Taxes and Tax Forms

How Taxes Are Calculated

Gross vs. Taxable Income:
- Gross income includes wages, freelance income, and investment gains.
- Taxable income = Gross income - Deductions/Exemptions.
Tax Rates:
- Brackets divide income into segments, with each taxed at a different rate.
Withholding:
- Employers deduct estimated taxes from paychecks.
- Self-employed individuals pay quarterly taxes to avoid penalties.

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Financial Literacy 101
Taxes and Tax Forms
How Taxes Are Calculated

AMZN$185.98+12.80 (739.12%)

DIS$89.59+3.50 (406.55%)

GOOGL$156.65+5.17 (341.65%)

AAPL$206.98+7.24 (362.47%)

MSFT$378.39+11.57 (315.55%)

TSLA$246.16+8.19 (344.16%)

NFLX$1046.27+5.93 (57.00%)

AMZN$185.98+12.80 (739.12%)

DIS$89.59+3.50 (406.55%)

GOOGL$156.65+5.17 (341.65%)

AAPL$206.98+7.24 (362.47%)

MSFT$378.39+11.57 (315.55%)

TSLA$246.16+8.19 (344.16%)

NFLX$1046.27+5.93 (57.00%)

AMZN$185.98+12.80 (739.12%)

DIS$89.59+3.50 (406.55%)

GOOGL$156.65+5.17 (341.65%)

AAPL$206.98+7.24 (362.47%)

MSFT$378.39+11.57 (315.55%)

TSLA$246.16+8.19 (344.16%)

NFLX$1046.27+5.93 (57.00%)

AMZN$185.98+12.80 (739.12%)

DIS$89.59+3.50 (406.55%)

GOOGL$156.65+5.17 (341.65%)

AAPL$206.98+7.24 (362.47%)

MSFT$378.39+11.57 (315.55%)

TSLA$246.16+8.19 (344.16%)

NFLX$1046.27+5.93 (57.00%)

AMZN$185.98+12.80 (739.12%)

DIS$89.59+3.50 (406.55%)

GOOGL$156.65+5.17 (341.65%)

AAPL$206.98+7.24 (362.47%)

MSFT$378.39+11.57 (315.55%)

TSLA$246.16+8.19 (344.16%)

NFLX$1046.27+5.93 (57.00%)

AMZN$185.98+12.80 (739.12%)

DIS$89.59+3.50 (406.55%)

GOOGL$156.65+5.17 (341.65%)

AAPL$206.98+7.24 (362.47%)

MSFT$378.39+11.57 (315.55%)

TSLA$246.16+8.19 (344.16%)

NFLX$1046.27+5.93 (57.00%)

AMZN$185.98+12.80 (739.12%)

DIS$89.59+3.50 (406.55%)

GOOGL$156.65+5.17 (341.65%)

AAPL$206.98+7.24 (362.47%)

MSFT$378.39+11.57 (315.55%)

TSLA$246.16+8.19 (344.16%)

NFLX$1046.27+5.93 (57.00%)

AMZN$185.98+12.80 (739.12%)

DIS$89.59+3.50 (406.55%)

GOOGL$156.65+5.17 (341.65%)

AAPL$206.98+7.24 (362.47%)

MSFT$378.39+11.57 (315.55%)

TSLA$246.16+8.19 (344.16%)

NFLX$1046.27+5.93 (57.00%)

AMZN$185.98+12.80 (739.12%)

DIS$89.59+3.50 (406.55%)

GOOGL$156.65+5.17 (341.65%)

AAPL$206.98+7.24 (362.47%)

MSFT$378.39+11.57 (315.55%)

TSLA$246.16+8.19 (344.16%)

NFLX$1046.27+5.93 (57.00%)

AMZN$185.98+12.80 (739.12%)

DIS$89.59+3.50 (406.55%)

GOOGL$156.65+5.17 (341.65%)

AAPL$206.98+7.24 (362.47%)

MSFT$378.39+11.57 (315.55%)

TSLA$246.16+8.19 (344.16%)

NFLX$1046.27+5.93 (57.00%)