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7 April, 05:03

How to calculate tax liability

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  1. 7 April, 07:01
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    Step 1 - Determine Gross Taxable Income

    Step 2 - Calculate Adjusted Gross Income

    Step 3 - Subtract Deductions

    Step 4 - Subtract Exemptions

    Step 5 - Calculate Tax Liability and Subtract Credits

    Step 6 - Determine Taxes Owed or Refund Due
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