Legal Definition and Related Resources of Profit
Meaning of Profit
benefit or advantage in money or in money’s worth. In income tax law, that surplus in the taxation period by which the receipts from a trade or a business exceed the expenditures necessary for the purpose of earning those receipts. See In re Letts estate , 19 Cal.Rptr. 502, 200 C.A.2d 708. Profit and taxable income in income tax law are not necessarily the same. The amount of the former is determined according to ordinary business practise and accepted principles of accounting, without regard to liability to tax or otherwise , whereas the amount of the latter depends on the provisions of the Taxing Act.
Synonyms of Profit
noun
- accruance
- accumulation
- acquisition
- advancement
- advantage
- augmentation
- avails
- benefaction
- benefit
- clearance
- compensation
- dividend
- earnings
- emolument
- financial reward
- fructus
- fruits
- gain
- growth
- harvest
- improvement
- incentive
- income
- increase
- increment
- interest
- lucrum
- meed
- output
- pay
- payment
- premium
- prize
- proceeds
- produce
- quaestus
- realization
- receipts
- remuneration
- return
- revenue
- reward
- service
- take
- utility
- value received
- windfall
- winnings
- yield
- Associated Concepts: accumulated profits
- anticipated profits
- capital
- carrying on business for profit
- distributable profits
- excessive profits
- excess profits tax
- gross profit
- loss of profits
- margin of profit
- net profit
- not for profit
- pecuniary profits
- profit a prendre
- profit sharing
- prospective profit
- remote profits
- secret profits
- speculative profits
- surplus profits
- underwriting profits
- ibiet lucrum collocatur
- He who risks a thing
- should receive the profits arising from it
verb
- acquire
- advance
- assist
- avail
- be better for
- be improved by
- be of use
- benefit
- cash in on
- clear
- confer a benefit on
- contribute
- draw profit from
- edify
- gain
- gain advantage
- harvest
- help
- improve
- learn a lesson from
- make capital out of
- make good use of
- make improvement
- make money by
- make use of
- obtain a return
- produce a good effect
- produce a good result
- proficere
- put to use
- realize
- reap
- reap the fruits
- turn to account
- use
- utilize
- yield returns
Related Entries of Profit in the Encyclopedia of Law Project
Browse or run a search for Profit 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.
Profit in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Profit in Historical Law in the Encyclopedia of Law.
Legal Abbreviations and Acronyms
Search for legal acronyms and/or abbreviations containing Profit in the Legal Abbreviations and Acronyms Dictionary.
Related Legal Terms
You might be also interested in these legal terms:
Mentioned in these terms
Á Prendre, Accrue, Apprendre, Association, Beneficial Association, Benefit, Business, Charitable, Co-operative Association, Common Enterprise, Confidential, Consideration, , Dividend, Eleemosynary, Emolument, Enticement, Fence, Infringement, Invest, Investment Contract, Jobber, Joint Adventure, Joint Stock Company, Joint Venture, Literary Property, Lucrative, Merchant, Minerals, N.a.a.c.p, , Partner, Partnership, Profession, Profit A Prendre, Revenue, Scrivener, Secret Commission, Securities, Slave-trade, Trade.
Translate Profit from English to Spanish
Translation of Profit , with examples. More about free online translation into Spanish of Ganancia; ventaja; and other legal terms is available here.
- Ganancia; ventaja;
- Provecho; utilidad; ucro
- Legal English Translation
Profit Definition (in the Accounting Vocabulary)
The New York State Society of Certified Public Accountants offers the following definition of Profit in a way that is easy for anybody to understand: Positive difference that results from selling products and services for more than the cost of producing these goods.
United States Tax Concept of Profit
Total revenue less expenses.
Concept of Profit in the context of Real Property
A short definition of Profit: The difference of income less expenses. Further broken down into net profit and gross profit, (see which).
Concept of Profit in the context of Real Property
A short definition of Profit: The difference of income less expenses. Further broken down into net profit and gross profit, (see which).
Resources
Legal English Vocabulary: Cost Accounting and Profit in Spanish
Online translation of the English legal term cost accounting and profit into Spanish: CONTABILIDAD DE COSTOS Y UTILIDAD (English to Spanish translation) . More about legal dictionary from english to spanish online.
Related to the Legal Thesaurus
Resources
Legal English Vocabulary: Profit in Spanish
Online translation of the English legal term profit into Spanish: beneficio (English to Spanish translation) . More about legal dictionary from english to spanish online.
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