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Old 09-17-2005, 08:58 AM
bobbygedd bobbygedd is offline
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Join Date: Nov 2000
Location: NJ
Posts: 10,188
what is the technical term for "taxable" income. in other words, joghny buys apples for $5 a bushel. he sells them door to door, by foot, for $10 a bushel. johny has no overhead, no insurence, no car, he walks barefoot door to door selling apples. i know that johny will GROSS $10 a bushel. this makes his taxable income $5, correct? now johny has deductions...children, etc, etc. THESE deductions come off that $5. what is the technical term for that $5?
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