Adjusted Gross Income - AGI

A deduction from a taxpayer's taxable adjusted gross income that is made up of deductions for money spent on certain goods and services throughout the year. The specific deductions that ...

A company's revenue minus its cost of goods sold. Gross profit is a company's residual profit after selling a product or service and deducting the cost associated with its production and ...

1. For individuals, the total income earned in a year, as calculated prior to any tax deductions or adjustments.2. For public companies, gross earnings is an accounting convention, ...

The amount of income that is used to calculate an individual’s or a company’s income tax due. Taxable income is generally described as gross income or adjusted gross income minus any ...

A filing status for married couples that have wed before the end of the tax year. When filing under the married filing jointly status, couples can record their respective incomes, ...

Periodic advance payment of taxes which are based upon the amount of income that is earned and the amount of estimated tax liability that will be incurred as a result. Estimated taxes ...

A class of employee that is permitted to deduct work-related expenses on Schedule C instead of Schedule A. Statutory employees are usually salespeople or other employees who work on ...

Be informed about benefits and deductions that may apply to you and avoid costly mistakes on your return.

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A paper by Ruben Cohen on the dynamics of wages, incomes and earnings.