Before and After tax deductions?

Guy Bonamico: Before tax income would be money that is spent before any taxes such as: * Money put into a 401K or IRA* Pre-Tax medical * Pre-Tax Child CareMost of your expenses are after tax. After tax means you have already paid tax on the money such as:Household expensesCar expensesFoodEntertainmentRent...Show more

Dallas Bartolini: Before Tax Deductions

Tana Dumoulin: What country might that be, since I found this under "Other taxes"?Allowable tax deductions deduct from your taxable income, reducing the amount of income used to calculate taxes. Some deductions that are itemized may not count unless you have enough deductions to exceed your standard deduction.Tax credits are different because they subtract from the amount of tax, instead of from income. In some cases they might give you a refund if you end up with no tax liability....Show more

Danyell Rowback: for example,Employment income is $100, tax rate is 20%Before tax deduction, your income is ! $100after tax deuction, your nett income is $80 (100-20)Before tax deduction, normally refer to gross amountAfter tax deduction, normally refer to nett amount...Show more