taxable income

Definition

The amount of income subject to income taxes; found by subtracting the appropriate deductions (IRA contributions, alimony payments, unreimbursed business expenses, some capital losses, etc.) from adjusted gross income.

Use taxable income in a sentence

I had too much taxable income and could not handle any of it, so I decided to quit my job and be a nomad.

​ Was this Helpful? YES  NO 25 out of 25 people found this helpful.

The taxable income of the individual was determined to be in the tax bracket we had anticipated that he would be in.

​ Was this Helpful? YES  NO 25 out of 25 people found this helpful.

In speaking to my accountant, I learned of a variety of available strategies that could be implemented to reduce my taxable income.

​ Was this Helpful? YES  NO 25 out of 25 people found this helpful.

Show more usage examples...

Mentioned in these terms

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
personal exemption 1040-EZ Form