23:28 Jun 24, 2017
Ruth, this doesn't necessarily answer your question, but just fyi, in the link Ana sent you there's the following passage. Seems tax base and taxable income are one and the same. : BREAKING DOWN 'Tax Base' The most common form of tax is income tax, which is assessed on both personal income and the net income generated by businesses; personal income tax is calculated using IRS Form 1040. The return starts with total income and then deductions and other expenses are subtracted to arrive at adjusted gross income (AGI). Itemized deductions and expenses reduce AGI to calculate the tax base, or taxable income, and the personal tax rates are based on the total taxable income. |