This is because it is the raw income figure before other factors are applied, such as federal income tax, allowances, or health insurance deductions, all of which vary from person to person. For instance, it is the form of income required on mortgage applications, is used to determine tax brackets, and is used when comparing salaries. In the U.S., the concept of personal income or salary usually references the before-tax amount, called gross pay. Related Income Tax Calculator | Budget Calculator ![]() If you or your company are still using the old W-4 (before the 2020 update), please use the following. ![]() Are you self-employed or an independent contractor?
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