A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- W-2A form your employer sends each year showing how much you earned and how much tax was withheld from your pay.
- Self-Employment TaxThe Social Security and Medicare tax that self-employed people pay to cover both the employee and employer shares.
- Estimated TaxesPayments made throughout the year on income that has no tax withheld, such as freelance or investment earnings.
- Tax ReturnThe annual form you file to report income, claim deductions and credits, and settle up what you owe or are owed.
- Taxable IncomeThe portion of your income left after deductions that the government actually applies tax rates to.
More in Taxes
Adjusted Gross Income (AGI)Alternative Minimum Tax (AMT)Capital Gains TaxChild Tax CreditDependentDividend Tax
Plain-English education — not personalized legal, tax, or investment advice.