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Income (United States legal definitions) In U.S. business and financial accounting, income is generally defined by Generally Accepted Accounting Principles (GAAP) and the Financial Accounting Standards Board as: Revenues – Expenses; however, many people use it as shorthand for net income, which is the amount of money that a company earns ...
Earnings before interest and taxes. In accounting and finance, earnings before interest and taxes (EBIT) is a measure of a firm's profit that includes all incomes and expenses (operating and non-operating) except interest expenses and income tax expenses. [1][2] Operating income and operating profit are sometimes used as a synonym for EBIT when ...
The CPS measure of money income is defined as the total pre-tax cash income received by people on a regular basis, excluding certain lump-sum payments and excluding capital gains. The Census Bureau also produces alternative estimates of income and poverty [ 9 ] based on broadened definitions of income that include many of these income ...
v. t. e. A company 's earnings before interest, taxes, depreciation, and amortization (commonly abbreviated EBITDA, [1] pronounced / ˈiːbɪtdɑː, - bə -, ˈɛ -/ [2]) is a measure of a company's profitability of the operating business only, thus before any effects of indebtedness, state-mandated payments, and costs required to maintain its ...
A household's income can be calculated in various ways but the US Census as of 2009 measured it in the following manner: the income of every resident of that house that is over the age of 15, including pre-tax wages and salaries, along with any pre-tax personal business, investment, or other recurring sources of income, as well as any kind of governmental entitlement such as unemployment ...
The Gini coefficient on market income—sometimes referred to as a pre-tax Gini coefficient—is calculated on income before taxes and transfers. It measures inequality in income without considering the effect of taxes and social spending already in place in a country.
t. e. In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes for an accounting period. [1][better source needed] It is computed as the residual of ...
Income tax is imposed on individuals, corporations, estates, and trusts. [6] The definition of net taxable income for most sub-federal jurisdictions mostly follows the federal definition. [7] The rate of tax at the federal level is graduated; that is, the tax rates on higher amounts of income are higher than on lower amounts.
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