Profit

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Profit

Most commonly, the gross proceeds of a business transaction less the costs of the transaction; i.e., net proceeds. Excess of revenues over expenses for a transaction; sometimes used synonymously with net income for the period. Gain realized from business or investment over and above expenditures.

Accession of good, valuable results, useful consequences, avail, or gain. The benefit, advantage, or pecuniary gain accruing to the owner or occupant of land from its actual use; as in the familiar phrase rents, issues and profits, or in the expression mesne profits.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
By calculating total tax paid in this manner, the CE attempts to capture what a consumer unit (CU) (5) actually owes the Internal Revenue Service (IRS) in order to determine aftertax income. The CE estimates aftertax income as follows:
(30.) Graetz, supra note 6, at 30 ("Ultimately it is the impact of legislation on the distribution of aftertax incomes that should be of concern in analyzing distributional consequences of legislative changes.").
In other words, the amount of preretirement savings creates a dollar-for-dollar reduction in the amount of post-retirement aftertax income needed to maintain an individual's preretirement standard of living.
The wife had argued the payments weren't alimony because the divorce court had ruled that a reasonable payment would constitute 40% of her spouse's aftertax income. Thus, she reasoned her husband already would have paid tax on the money paid her.
Since their combined federal and state income tax rate totals 35%, they have $65,000 of aftertax income. Because the couple needs only $59,000 to meet their living expenses, they plan to save $6,000 of aftertax dollars each year for the next nine years.