Help me with the formula of getting this terms: Monthly income Taxable income Gross income Income tax Net income:(in maths) "In english please"

Here are the formulas for the income terms:

• Gross Income: This is the total amount of money earned before any deductions are made.

  $$\text{Gross Income} = \text{Total Earnings from all sources}$$

• Monthly Income: This is the gross income earned in a single month. If given an annual gross income, it's:

  $$\text{Monthly Income} = \frac{\text{Annual Gross Income}}{12}$$

• Taxable Income: This is the portion of your gross income that is subject to taxation after certain deductions and allowances.

  $$\text{Taxable Income} = \text{Gross Income} - \text{Allowable Deductions}$$

• Income Tax: This is the amount of tax owed to the government, calculated based on your taxable income and the applicable tax rates (which often vary by income bracket).

  $$\text{Income Tax} = \text{Taxable Income} \times \text{Tax Rate}$$

  (Note: For progressive tax systems, this calculation is more complex, involving different rates for different income brackets.)

• Net Income: This is the amount of money you take home after all deductions, including income tax, social security, health insurance, etc., have been subtracted from your gross income.

  $$\text{Net Income} = \text{Gross Income} - \text{Total Deductions}$$

  Where Total Deductions include Income Tax, social security, health insurance, etc. Alternatively:

  $$\text{Net Income} = \text{Taxable Income} - \text{Income Tax} - \text{Other Deductions}$$