Gross Income: The scheduled (total) income, either actual or estimated, of a person before deductions. This for example could be a person's salary plus bonuses, plus benefits in kind (e.g. company car and medical insurance) plus income from shares etc.

 

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Gross Income: The scheduled (total) income, either actual or estimated, of a person before deductions. This for example could be a person's salary plus bonuses, plus benefits in kind (e.g. company car and . . . View Full Definition

Pretax Income: Pretax income, sometimes described as pretax dollars, is your gross income before income taxes are withheld. Any contributions you make to a salary reduction retirement plan, such as a 401(k . . . View Full Definition

Personal Income: Personal income is a person's total income which includes salary, transfer payments, dividend and interest income.

Adjusted Gross Income (AGI): Your AGI is your gross, or total, income from taxable sources minus certain deductions. Income includes salary and other employment income, interest and dividends, and long- and short-term c . . . View Full Definition

Earned Income: Earned income is pay you receive for work you perform, including salaries, wages, tips, and professional fees. Your earned income is included in your gross income, along with unearned income . . . View Full Definition

Modified Adjusted Gross Income (MAGI): Your modified adjusted gross income (MAGI) is your adjusted gross income (AGI) plus deductions, such as college loan interest and contributions to a deductible individual retirement account . . . View Full Definition

Adjustments To Gross Income: Amounts deducted from the gross income of an individual taxpayer in arriving at adjusted gross income: includes contributions to individual retirement plans and alimony paid.

Gross Estate: A person's total taxable income prior to adjustments. See: adjusted gross income.

Loss-Of-Income Insurance: Insurance coverage that will pay out income that a policyholder loses as a result of a disability, injury, or business disruption.

Interest Income: Interest expense is the money the corporation or individual pays out in interest on loans.