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Federal income tax
Except specifically exempted, all income (illegal and legal) is subject to personal income tax. Withholding depends on 1) employee's gross earnings, 2) employee's marital status, and 3) the number of withholding allowances claimed. (Exemptions) employee fills out a W-4 to claim the number of exemptions. Employer uses a tax table to determine correct amount to be withheld.
The list of accounts below and the unadjusted balances of these accounts were taken from the ledger of the Manville Corporation at the end of their accounting period, March 31,
how to budget for you income
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