gross income

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Money deposited into those accounts is subtracted from your gross income for the year, reducing your tax bill or increasing your refund.

From Barron's

For example, “If a married couple has a modified adjusted gross income of $250,000 and they buy a $50,000 piece of equipment for their business, that brings their income to $200,000 after the 100% depreciation. Now they may be eligible for other tax benefits,” says Brian Schultz, a tax partner at Plante Moran.

From Barron's

Because donations to a DAF can usually be deducted up to 30% of adjusted gross income, this stock gift provides a dollar-for-dollar deduction and significantly lowers their taxable income.

From Barron's

First, the tax bill sets a new floor: Gifts will be deductible to the extent they exceed 0.5% of your adjusted gross income.

From Barron's

The full deduction goes to taxpayers with $75,000 or less in modified adjusted gross income, or $150,000 for married couples.

From MarketWatch