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Before Tax Annual Income For Individuals

Before tax annual income:

For employees on a salary with no business ownership interest – it is your current total annual salary package
For employees on a salary with a business ownership interest – it is your current annual salary plus or minus your share of the business’ latest financial year profit or loss (before tax and after expenses)
For sole proprietors – it is the gross business income, minus the cost of goods sold and less any tax deductible business expenses
For partners in a partnership – it is your drawings plus or minus your share of the partnership’s latest financial year profit/loss (before tax and after expenses)

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