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Taxable income

Taxable income is a person's estimated income subject to federal, state and local taxation at ordinary rates. It is reported as "taxable income" on the person's federal income tax return without taking into consideration tax sheltered programme investments.

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Related terms

taxable income
Financial services; Real estate investment

Taxable income is a person's estimated income subject to federal, state and local taxation at ordinary rates. It is reported as "taxable income" on the person's federal income tax ...

taxable income
Legal services; Courts

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.

taxable income
Outsourcing & offshoring; Business process outsourcing (BPO)

What is left after all deductions are taken. This is the amount upon which tax is computed.

taxable income
Financial services; General Finance

Gross income less a variety of deductions.

taxable income
Law; Legal services; General law

Under federal tax law, this is either the “ gross income ” of businesses or the “ adjusted gross income ” of individuals minus deductions and exemptions. It is the income against ...

taxable income
Health care; Insurance; Managed care; Health insurance

Gross income minus certain deductions and exemptions, from which the income tax due is determined.

accelerated cost recovery system (ACRS)
Financial services; Real estate investment

Before 1981, assets used for the production of income were depreciable if they were subject to wear and tear or decline due to natural causes or obsolescence. Assets that did not ...

accelerated depreciation
Financial services; Real estate investment

Accelerated depreciation is a method of depreciation in which larger deductions are taken earlier in the life of the asset than with the straight-line method. Examples include the ...

account
Financial services; Real estate investment

An account is a written record of a business transaction expressed in money and kept in a ledger.

accounting principles
Financial services; Real estate investment

Accounting principles refer to an accounting doctrine that explains current practices and is a guide for the selection of accounting conventions or procedures when alternatives ...

accrued depreciation
Financial services; Real estate investment

Accrued depreciation is the difference between the cost of replacing new property and the present market value of the property.

active income
Financial services; Real estate investment

Active income is all taxable income of a taxpayer except income from a passive activity and portfolio income. Passive activity is something in which the taxpayer does not actively ...

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