income tax 101, income taxes definition, basics, and best practices. filing your personal or professional income taxes in the us can be an overwhelming task. we can make filing this year’s taxes a bit easier for you by explaining basic taxation concepts and terminology—and providing valuable tips to save money when it comes to tax planning. in this course, we cover concepts such as taxable income, tax brackets, average and marginal tax rates, tax withholding, deductions, and credits, and explain the motivation behind federal tax deductions such as mortgages, dependents, and charitable giving. we review the steps involved in filing
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