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Tax deduction
Tax deductions are amounts you can subtract directly from your income.
Tax deductions are amounts you can subtract directly from your income prior to calculating how much tax you owe. Businesses often have many more tax deductions than individuals, however individuals may have some such as retirement contributions, moving expenses, or spousal payments. The idea is to lower your overall income so that it is taxed at a lower rate.
Related Glossaries
Contractor
A contract employee (or self-employed worker) is not considered a permanent employee.
Definite and Indefinite contract
Employment contracts that are either Fixed-term or Indefinite.
Unpaid Leave
A leave that the employer permits, however is not paid in terms of wages.
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Introducing the RemotePass Card: Your Money. Your Card. Your Choice.
In this article, we explore what the RemotePass Card is, what it enables, and answer some FAQs, so that you can manage your money remotely with confidence.
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