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Financial Terms related to Income
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glossary with more than five thousand financial
and business terms.
This document...
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Findthousandsoffinancialtermsatwww.
ftpall.
com
Financial Terms related to Income
This document is part of the valuable contents
available at www.
ftpall.
com, a free online
glossary with more than five thousand financial
and business terms.
This document can be copied and distributed freely
respecting its original format.
It is forbidden its
transcription, translation or change on its format
without authorization of its author or editor.
INCOME
Active business income
• Income derived from the normal business activities of the corporation.
Adjusted gross income
• Abbreviated AGI.
Sum of Earned Income, net Passive Income, portfolio income,
and capital gains.
The IRS uses AGI to determine most limitations on credits or
deductions in taxes.
Common size income statement
• An income statement in which each item is expressed as a percentage of sales.
Deferred income taxes
• On the Balance Sheet, deferred taxes are a liability that result from income already
earned and recognized for
Less