Respuesta :
Answer:
Given below
Step-by-step explanation:
We have gross pay is the total pay given by the mployer.
From this standard deductions are deducted to get taxable income on which tax is imposed and subtracted. The balance is adjusted gross pay paid as salary. Adjusted gross pay will be used for personal spending and the remaining
We have the chain as
Gross pay - deductions= Adjusted gross pay
Adjusted gross pay - taxes = disposable income+savings
Disposable income - personal spending = Savings
Taxable income - taxes = disposable income
Answer:
Gross pay – deductions = Adjusted Gross Pay
Adjusted gross income is the individual's income minus the deductions.
Adjusted Gross Pay – tax = Taxable income
Taxable income is that amount, which is left after subtracting the deductions and claiming exemptions from ones adjusted gross income.
Disposable income – personal spending = Savings
Savings is the money, that is left after spending on taxes, housing, food etc.
Taxable income – taxes = disposable income
Disposable income or net pay is the money left, after cutting out taxes.
