Remove Deductions Remove Medical Billing Remove Seminar
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How Do You Learn Money: 35 Financial Literacy Terms You Should Know

Due

Emergency Fund An account set aside to cover unexpected expenses or financial emergencies, such as medical bills, car repairs, or job loss. Gross Income The amount earned before taxes and other deductions. Tax Deduction Income reduction that reduces taxes owed. Wages, bonuses, and other earnings are included here as well.

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How Freelancers Can Prepare for Coronavirus

Fundera

You’ll be happy to know you have insurance in the event that you’re slapped with a sky-high medical bill. Unlike traditional employees where taxes are already deducted from their paychecks, freelancers must set aside state and federal taxes themselves. Maybe you’re a business consultant that offers seminars.