GO
Loading...

Tax Deductions: CNBC Explains

Tax deductions are an important part of calculating your annual income. But many people are unclear about how deductions affect overall tax payments. The good news? There’s a simple calculation you can do, depending on your tax bracket, to help you estimate the effect. Salman Khan of the Khan Academy works through an example.

From this video, you’ll understand:

  • Basic misconceptions about tax deductions
  • How tax deductions reduce taxable income



Contact CNBC Explains

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Latest Special Reports

  • Trading Nation

    Trader Nation is not simply about finding that next trade -- it is a place where traders trade better together.

  • Inside the market's biggest sectors with a look at the trends, companies and trades netting profits for investors.

  • CNBC 'Explains' the complicated economics of our world—from stocks and balance sheets, to trade and public policy.