WebQUESTION 61 Discretionary Income can be defined as money left over after paying taxes and buying necessities take-home pay take-home pay that is adjusted to reflect a base … WebAug 9, 2024 · Discretionary income is the money you have left over after paying taxes and necessary cost-of-living expenses—like your rent or mortgage, utilities and groceries. It’s called “discretionary income” because it can be used for discretionary expenses—nice-to-haves but not necessities.
Net Income What Is It & How Is It Measured? - Annuity.org
WebJan 14, 2024 · Discretionary income, also known as disposable income, is any money you have left over after you pay all of your bills and other expenses. Keep in mind that your discretionary income is not the same as your gross income. Gross income, also known as your before-tax income, is how much money you earn before taxes are deducted from … WebOct 18, 2024 · Gross income refers to the total earnings a person receives before paying for taxes and other deductions. The amount that remains after taxes are deducted is called net income. When looking at a ... flanagan\\u0027s whitby
How Much Money Should Be Left After Paying Your Bills? - The …
WebQUESTION 61 Discretionary Income can be defined as money left over after paying taxes and buying necessities take-home pay take-home pay that is adjusted to reflect a base year take-home pay that is adjusted to reflect inflation QUESTION 62 "What if planning, based on alternative scenarios, is called scenario analysis contingency planning … WebAug 1, 2024 · Net income refers to the money you may have available after taxes and deductions are taken out of your paycheck. For a business, net income is the money that’s … WebNov 7, 2024 · Discretionary income is the leftover income over after taxes and essential expenses are paid. Discretionary income, for purposes of income-driven student loan plans, is calculated by comparing your income with the federal poverty level. Disposable income is different from discretionary income because it does not factor in essential expenses; it ... flanagan\\u0027s wine and spirits appleton wi