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Taxable income refers to the base upon which an income tax system imposes tax.〔(Reporting income ), Retrieved December 4, 2013〕 Generally, it includes some or all items of income and is reduced by expenses and other deductions.〔(What is taxable income? ), January 23, 2012, Retrieved December 4, 2013〕 The amounts included as income, expenses, and other deductions vary by country or system. Many systems provide that some types of income are not taxable and some expenditures not deductible in computing tax.〔(Allowable Deductions ), Retrieved December 4, 2013〕 Some systems base tax on taxable income of the current period, and some on prior periods. Taxable income may refer to the income of any taxpayer, including individuals and corporations, as well as entities that themselves do not pay tax, such as partnerships. Most systems require that all income realized be included in taxable income. Some systems provide tax exemption for some types of income.〔(Income tax exempt funds ), Retrieved December 4, 2013〕 Many systems impose tax at different rates for differing types (e.g., capital gains or salaries) or levels of income (e.g., graduated rates). In the United States, gross income includes all income realized from whatever source, but excludes particular tax exempt items, such as municipal bond interest. In 2010, the United Kingdom and the United States both provided reduced rates of tax for capital gains and dividends. Most systems and jurisdictions allow business taxpayers to reduce taxable income by cost of goods or other property sold, as well as deductions for business expenses.〔(Business income, deductions and tax returns ), Retrieved December 4, 2013〕 Many systems limit some sorts of business deductions. For example, deductions for automobile expenses are limited in the United Kingdom and United States. Some systems allow tax deductions for certain nonbusiness expenses.〔(Sec. 1.212-1 Nontrade or nonbusiness expenses ), Retrieved December 4, 2013〕 Such deductions may include personal expense items, such as a home mortgage interest deduction, and vary widely by jurisdiction. In addition, many systems only levy taxes on earnings above an income tax threshold, allow deductions for personal allowances or a minimum deemed amount of personal deductions. The United States Federal system allows a deduction for personal exemptions, as well as a minimum standard deduction in lieu of other personal deductions. Some states in the United States allow few personal deductions. ==See also== *Income tax *Income tax in Canada * Income tax in Hong Kong *Income tax in the United Kingdom *Income tax in the United States *Taxable wages 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「taxable income」の詳細全文を読む スポンサード リンク
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