Investor Glossary-taxable incomeInvestor Glossary-taxable incomeInvestor Glossary-taxable incomeInvestor Glossary-taxable incomeInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Taxable Income

The HTML to link to this page
 

Taxable income is all income that is subject to taxation by the Internal Revenue Service (IRS). Although taxable income is the only type of income that is subject to taxation, reporting of non-taxable income may be required by the IRS. Individuals, businesses, charities, non-profits and even government entities have taxable income.

The IRS maintains an exclusive, rather than an inclusive, definition of taxable income. That is, all income is taxable income unless otherwise stated in the Internal Revenue Code. Some common examples of non-taxable income for individuals are:

- Gifts
- Bequests
- Inheritances
- Cash rebates
- Travel expenses
- Legal compensation
- Adoption reimbursements

The IRS cites the following as examples of taxable income for individuals and businesses:

- Payments from employers
- Revenues from customers
- Rent payment from tenants
- Cash windfalls
- Fringe benefits
- Royalties

The specific definition of taxable income changes from year to year as the Internal Revenue Code is updated through legislation or executive order.



Rate this taxable income definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: current ratio, quality assurance, labor relations, Key Rate Duration, 1031 exchange, APR, 1035 exchange, open position, LIBOR, phantom income, minority interest, retained earnings, option premium, deferred revenue, class C shares, balance sheet, stock market close, stock split, irrevocable trust, margin rate, average price per share, cancelled check, in escrow, risk management, inflation, FTSE, dividends payable, command economy, required rate of return, Zero Cost Collar, ex-dividend, implied volatility, limit order, 144a, debt service coverage, reverse mortgage, diluted share, wholly-owned subsidiary, per diem, real GDP, covered put, EBITDA, 401a, liquidity ratio, FICO score, ex-dividend date, annual return, VIX, deferred tax


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Investor Glossary | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use