CrunchBase(0.00 / 0 votes)Rate this definition: Aras. Aras is a suite of open source Product Life Cycle Management (PLM) software solutions that run on a model-based SOA application framework.
What is a 'Tax Deduction'. A tax deduction is a reduction in tax obligation from a taxpayer's gross income. Tax deductions can be the result of a variety of events that the taxpayer experiences over the course of the year. Tax deductions are removed from taxable income, also known as the adjusted gross income, and thus lowers the taxpayer's overall tax liability.
How to Calculate Your TRS Benefits. The following was included in TCTA's 2016-17 Survival Guide, the ultimate reference tool for Texas educators, and is current as of September 2016 but is subject to change. To calculate your TRS retirement benefits, use the following formula: Multiply your years of service credit by 2.3 percent. (Example: if you have 30 years of service credit in TRS, 30 x 2.3 = 69 percent.) Determine the average of your five highest years of salary.* Multiply your average salary (from step 2) by the number from step 1. This is your annual TRS standard annuity. (Example: $40,000 x 69 percent. This personâs standard annuity would be $27,600 per year.)