Legal Definition and Related Resources of Taxable Income
Meaning of Taxable Income
All income classified as earned income within the meaning of Section 911 of the Internal revenue Code of 1954 (26 U.S.C.S. §911) is taxable. Income is the excess of incoming receipts over outgoing expenditures. See United States v Basye, 410 U.S. 441, 93 S. Ct. 1080.
Financial Definition of Taxable Income
Gross income less a set of deductions.
Related Entries of Taxable Income in the Encyclopedia of Law Project
Browse or run a search for Taxable Income in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.
Taxable Income in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Taxable Income in Historical Law in the Encyclopedia of Law.
Legal Abbreviations and Acronyms
Search for legal acronyms and/or abbreviations containing Taxable Income in the Legal Abbreviations and Acronyms Dictionary.
Related Legal Terms
You might be also interested in these legal terms:
Mentioned in these terms
Adjusted Taxable Income, Assess, Deduction, Profit, Recapture.
Taxable Income Definition (in the Accounting Vocabulary)
The New York State Society of Certified Public Accountants offers the following definition of Taxable Income in a way that is easy for anybody to understand: Taxable income is generally equal to a taxpayer’s ADJUSTED GROSS INCOME during the TAX YEAR less any allowable EXEMPTIONS and deductions.
United States Tax Concept of Taxable Income
Taxable income is your gross income reduced by all your adjustments, deductions, and exemptions. The amount on which your tax bill is computed.
Hierarchical Display of Taxable income
Finance > Taxation > Tax system
Finance > Taxation > Fiscal policy > Distribution of the tax burden > Basis of tax assessment
Meaning of Taxable income
Overview and more information about Taxable income
For a more comprehensive understanding of Taxable income, see in the general part of the online platform.[rtbs name=”xxx-xxx”]
Resources
Translation of Taxable income
- Spanish: Renta imponible
- French: Revenu imposable
- German: Steuerpflichtiges Einkommen
- Italian: Reddito imponibile
- Portuguese: Rendimento tributável
- Polish: Dochód opodatkowany
Thesaurus of Taxable income
Finance > Taxation > Tax system > Taxable income
Finance > Taxation > Fiscal policy > Distribution of the tax burden > Basis of tax assessment > Taxable income
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