Question by  ani79 (8)

What is "real income" and how it is calculated?


Answer by  tamarawilhite (17883)

Real income is how much money you make after taxes and business expenses or expenses related to working. For example, your real income for a job is the income minus taxes, commuting costs, parking, work clothing, and childcare if you have children. For a business, take income and subtract taxes and other business expenses like a CPA or attorney's fees.

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