"Withholding." "Adjusted income." "Standard deduction." With Tax Day approaching, many new to the workforce are searching for explanations to help them make sense of all the lingo. Shannon McLay knows ...

Here's what you should know about income tax, what it is, how it works, how to calculate it and which states don't have it.

Gross income is the total of all income you receive before taxes. It’s also called pre-tax income. Net income is your income after taxes (or take-home pay). Your gross income figure will always be ...