Outrageously Funny Word Dictionary :: Praetaxation

👉 In tax law, "praetaxation" is a term that refers to the process of calculating and paying taxes on income before any deductions or exemptions are applied. This means that if an individual's income exceeds certain thresholds (which can be determined by the tax code), they may have to pay additional taxes based on their taxable income. For example, if an individual earns $100,000 per year and pays a 20% tax rate, their total taxable income would

praetaxation