Gross Receipts

DEFINITION of 'Gross Receipts'

A tax term relating to the total business revenue from services provided that must be reported for the fiscal period. Gross receipts do not account for sales returns and allowances, cost of goods sold or any other deductible expenses. Gross receipts can include both rental and interest income.

BREAKING DOWN 'Gross Receipts'

Although most expenses are deducted from the gross receipts figure, any sales from fixed assets and employee withholding taxes are generally subtracted before arriving at this number. Gross receipts are reported by taxpayers who provide both goods and services to consumers.

RELATED TERMS
  1. Receipt

    A written acknowledgment that something of value has been transferred ...
  2. Gross Income

    1. An individual's total personal income, before accounting for ...
  3. Gross Profit

    A company's total revenue (equivalent to total sales) minus the ...
  4. Custodial Receipt

    A receipt representing a security held by a custodian or transfer ...
  5. Gross Earnings

    1. For individuals, the total income earned in a year, as calculated ...
  6. Treasury Receipt

    A zero-coupon bond that doesn't pay interest at regular intervals ...
Related Articles
  1. Investing

    Which Receipts Save Big Money at Tax Time

    Don't wait to April 13th to set up a smart receipt-filing system. These 7 categories could save you some significant money.
  2. Personal Finance

    What is Gross Income?

    Gross income is an individual’s total income before taxes and other adjustments are considered.
  3. Personal Finance

    Do You Need A Rent Receipt?

    Landlords don't always bother to send receipts to renters. But there are important reasons renters should insist on getting proof they paid their rent.
  4. Investing

    Understanding Gross Sales

    Gross sales represents the overall revenue of a company through its sales activities.
  5. Personal Finance

    Tips To Make Next Year’s Taxes Less Stressful

    You might be ready to put the stress of tax preparation behind you until next season, but ignoring your personal tax situation for 11 months of the year is what got you into this mess. Find out ...
  6. Investing

    How Gross Margin Can Make or Break Your Startup

    Find out how your startup's gross margin can impact your business, including why a mediocre margin may spell disaster for a budding business.
  7. Personal Finance

    Explaining Taxable Income

    Taxable income is the net of gross income and allowable deductions.
  8. Investing

    The Gross Margin

    A business's "gross margin" is a rough gauge of how profitable its operations are. It measures how much sales revenue the company retains after all of the direct costs associated with making ...
  9. Personal Finance

    An Overview Of Itemized Deductions

    Not taking the standard deduction this year could save you hundreds of dollars.
  10. Investing

    How To Value A Real Estate Investment Property

    Two common methods for real estate valuation are the discounted net operating income and gross income multiplier approaches.
RELATED FAQS
  1. Are gross sales and taxable gross sales the same thing?

    Learn the difference between gross sales and taxable gross sales and how these terms relate to the profit and tax liability ... Read Answer >>
  2. Does location matter for taxes when calculating gross sales?

    Learn more about gross sales taxes and how merchants are impacted by them. Find out if different business locations are impacted ... Read Answer >>
  3. What are the differences between gross profit and net income?

    Find out how companies determine gross profits and net income, and how these figures provide quick snapshots of their financial ... Read Answer >>
  4. Does gross profit include tax?

    Find out what gross profits are, how they are calculated, how they are interpreted by investors and whether taxes are taken ... Read Answer >>
  5. What is the difference between AGI (adjusted gross income) and gross income?

    Find out the differences between your annual gross income and your adjusted gross income, or AGI, both of which are calculated ... Read Answer >>
  6. What are the differences among gross income, adjusted gross income and modified adjusted ...

    Discover how calculating total taxable income is easier when gross income, adjusted gross income and modified adjusted gross ... Read Answer >>
Hot Definitions
  1. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  2. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  3. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  4. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  5. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  6. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
Trading Center