taxable income
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.
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Related Terms on BusinessDictionary
unitary tax system (UTS)
marginal relief
accountable plan
salary reduction plan
inflation accounting
taxable equivalent yield
assessable profit
fringe benefit
tax base
business purpose rule
tax benefit rule
deferred income tax liability
tax deferred savings
dependency exemption
tax evasion
recapture of depreciation
effective tax rate
employee profit sharing plan (EPSP)
non-qualified deferred compensation (NQDC)
first-in, first-out (FIFO)
hidden reserve
tax deductible interest
marginal relief
accountable plan
salary reduction plan
inflation accounting
taxable equivalent yield
assessable profit
fringe benefit
tax base
business purpose rule
tax benefit rule
deferred income tax liability
tax deferred savings
dependency exemption
tax evasion
recapture of depreciation
effective tax rate
employee profit sharing plan (EPSP)
non-qualified deferred compensation (NQDC)
first-in, first-out (FIFO)
hidden reserve
tax deductible interest
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