Gross income less a set of deductions.
is that income that is reported to the government for the purposes of calculating income taxes. Taxable income normally is not aligned with the financial income reported within financial statements. See FINANCIAL INCOME.
The base, on which the amount of income, tax is determined.
TI - Amount upon which income taxes are based (17.1).
For the individual, adjusted gross income less itemized deductions and personal exemptions. After taxable income is computed, the tax to be paid can be determined by looking at the tax rate schedules. For corporations, gross income less allowable business deductions.
The income on which the Inland Revenue calculates the corporation tax.
Adjusted gross income less personal deductions and exemptions.
The amount of income that is subject to tax. This amount is reached at after availing all allowable deductions and exemptions.
Gross income less a variety of deductions.
The tax base that remains after all deductions are taken. This is the amount upon which tax is computed.
Total income minus personal exemption and a standard deduction or other allowable deductions. (p. 215)
The amount used in the calculation of an individual's income tax liability. It is equal to one's income after certain adjustments have been made and standardized or itemized deductions and personal exemptions have been deducted.
The amount of your annual income that is used to calculate how much income tax must be paid; your total earnings for the year minus deductions.
The amount upon which income tax is calculated after subtracting allowable deductions for AGI, deductions from AGI, and the personal and dependency exemptions.
the net amount of income, after allowable exemptions and deductions, on which income tax is computed
The amount of income that a taxpayer looks up in a tax table to determine the tax due on after subtracting adjustments, deductions, and exemptions from gross income.
The portion of a person's income remaining after tax-free allowances have been accounted for. It is normally less than gross income.
Adjusted gross income minus deductions and exemptions.
Taxable income is that part of a person's or company's income on which taxes are levied. For a company, tax falls on revenue for a given business year after deducting expenses. Some items regarded as revenue in accounting terms are not treated as income for tax purposes. A stock dividend, for example, is considered revenue under accounting but not tax rules. However, income from the sale of products and services and revenue generated through the sale of land and buildings are taxable. For tax and accounting purposes, administrative expenses, marketing and input costs related to goods and services sold are treated as expenditure items. But abnormally high executive salaries and bonuses do count as expenditure in tax terms.
Income earned from wages, salaries, tips, as well as interest income, dividends, alimony, estates or trust income, business or farm profits, and rental or property income.
Gross income minus exemptions and personal deductions.
Income that is taxable by law; calculated as the net operating income minus interest and depreciation. Taxable income from sale of a property equals the capital gain. Should not be confused with after-tax income or before tax cash flow.
The income that appears on your notice of assessment that you receive from the Australian Taxation Office after lodging your tax return.
The IRS allows you to deduct certain amounts from your income before you calculate the tax due on it. These include the personal exemption (if you are entitled to claim one) and the standard deduction (or itemized deductions if you can itemize). What remains is your taxable income.
The income against which tax rates are applied to compute tax paid; gross income of businesses or adjusted gross income of individuals less deductions and exemptions.
The Internal Revenue Service allows you to deduct certain amounts from your gross income before you calculate the tax. These deductions include any allowable exemptions or adjustments, and the standard deduction (or itemized deductions if you can itemize). The remainder is your taxable income.
Assessable income minus any allowable deductions, calculated for the purpose of determining gross tax payable.
Gross income minus any adjustments to income, any allowable exemptions, and either itemized deductions or the standard deduction.
The amount of income used to compute tax liability. It is determined by subtracting adjustments, itemized deductions or the standard deduction, and personal exemptions from gross income.
Taxable income is the same as pretax. Earnings succeed pretax.
A taxpayer's assessable income less the allowable deductions.
The net income figure used to determine taxes payable to governments.
Adjusted gross income minus personal exemptions and the applicable standard or itemized deductions. Also see “Adjusted gross income,” ‘Income,” and “Taxable gain.
What is left after all deductions are taken. This is the amount upon which tax is computed.
Adjusted gross income less itemized deductions or the standard deduction, less allowable personal and dependent exemption amounts.
Your total income (assessable income less deductions) that is subject to marginal tax, and the Medicare Levy.
the income you have to pay tax on
The amount on which you actually pay. This is the adjusted gross income less itemized or standard deductions.
The amount of income left after all allowable deductions have been subtracted from NET INCOME. This amount is used to calculate the tax payable.
Income that is subject to taxation after accounting for adjustments, exemptions, and deductions.
For income tax purposes, the excess of the total income of an estate or a trust over the distribution deduction and all other deductions, including the exemption.
Total income minus any tax free allowances.
Assessable income less allowable tax deductions.
The amount of net income used in calculating income tax.
Gross income less all allowable adjustments. Incorporated businesses derive net income before taxes after deducting total costs and expenses from gross sales.
Taxable income is the portion of income that is the subject of taxation according to the laws that determine what is income and the taxation rate for that income. Generally, taxable income refers to an individual's (or corporation's) liabilty on their earnings adjusted for what is regarded as taxable or not by government statute. The main questions put by most individuals in any jurisdiction are "what makes up my taxable income" and what tax rates should be applied such that I can work out my tax liabilty to the state.