Which describes an individual’s net income?(1 point)

Question

Responses

all salaries
all salaries

all wages, salaries, and other earnings
all wages, salaries, and other earnings

all wages and other earnings minus FICA
all wages and other earnings minus FICA

all wages minus all taxes and deductions
all wages minus all taxes and deductions

Answer 1

The option that best describes an individual’s net income is:

all wages minus all taxes and deductions

Net income is typically calculated by taking total earnings (wages and other earnings) and subtracting taxes and other deductions.