Gross Income

(redirected from pretax income)
Also found in: Financial, Acronyms.

Gross Income

The financial gains received by an individual or a business during a fiscal year.

For Income Tax purposes, gross income includes any type of monetary benefit paid to an individual or business, whether it be earned as a result of personal services or business activities or produced by investments and capital assets. The valuation of gross income is the first step in computing whether any federal or state income tax is owed by the recipient.

gross income

n. in calculating income tax, the income of an individual or business from all sources before deducting allowable expenses, which will result in net income. (See: income tax)

References in periodicals archive ?
In Wholesale, slov^r client activity in Fixed Income led to a decline in both revenues and pretax income.
Including fiscal 2013's debt retirement loss, pretax income surged more than ninefold to $54.
25 after trading that valued $58 thousands, while its financial results as of 30/09/2009 indicated a pretax income of $2.
36) that one earns pretax income without any help from the government, so that the government bears a heavy burden of justification in taxing any of it away.
For valuation purposes, earnings are a small corporation's pretax income after adjusting owner-employee compensation up or down to competitive levels; excess or residual earnings are earnings less an amount equal to a modest return on assets tied up in the business.
Thus, the adjustments, up or down, to the valuation allowance for deferred tax assets may far exceed pretax income or loss.
2% decrease in pretax income before extraordinary items.
Although total title revenues were essentially the same as last year's fourth quarter, the segment's pretax income increased $9.
Moving down the income statement, Coutu booked $300,000 in financing expenses compared to $1 million in income a year ago, helping drive pretax income before the Rite Aid gains down 1.
The company said total property and casualty pretax income was $49.
The company has also provided revenue and pretax income guidance for Q2 2005 and a pretax income guidance for the full year.