GO
Loading...

Tax Deductions: CNBC Explains

Sunday, 29 May 2011 | 12:00 AM ET

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.