Tag: income

Tax Brackets

See Also: Marginal Tax Rate Prepaid Income Tax Ad Valorem Tax Deferred Income Tax Cash Flow After Tax What are Tax Brackets? What are tax brackets? Tax brackets are levels of taxation determined by income. Individuals with income falling within a certain tax bracket pay taxes according to the stated rate for that bracket. Typically,

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Revocable Trust

See Also: Pension Plans Keogh Plan Credit Life Insurance 401k Individual Retirement Account (IRA) Revocable Trust Definition A revocable trust is an agreement between a grantor and trustee where it transfers profit generating assets to the trustee. However, the grantor is still able to generate income from the assets. The grantor is also able to

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Gross Up

See Also: Adjusted Gross Income Definition Gross Profit Margin Ratio Analysis PEO Arrangement Compared to Outsourcing Payroll Payroll Accounting Purchase Option Gross Up Definition Defined as paying a full amount without any deductions, gross up is most often used in terms of salary for employees. Gross Up Explanation Gross up, explained as a method for

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Flat Tax Rates

See Also: Marginal Tax Rate Prepaid Income Tax Tax Brackets Deferred Income Tax Cash Flow After Tax Flat Tax Rates Definition Flat tax rates refers to a single tax rate that is applied to all levels of income. In a flat tax rate system individuals with lower levels of income are taxed at the same

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Economic Income Definition

See Also: Economic Order Quantity (EOQ) Accounting Income vs. Economic Income Economic Production Run (EPR) Problem With Days Sales Outstanding Example Economic Income Definition Economic income is the way for companies to account for changes in the value of a given asset in the market. It generally recognizes unrealized gains, in addition to recognizing realized

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Comprehensive Income

See Also: Accounting Income vs. Economic Income Accounting Income Definition Economic Income Income Statement Net Income Debt Restructuring Maximizing Your Bottom Line In 3 Simple Steps Net Profit Margin Analysis Define Comprehensive Income Define Comprehensive Income as the overall change in wealth for a company during a period. This includes not only the growth through

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Budgeting vs Forecasting

See Also: Forecasting Comparison Analysis Budgeting vs Forecasting Process The budgeting vs forecasting process has been a good discussion between financial professionals. The argument of whether they serve the same purpose or if one is better than the other has lead to some interesting debates. The term has been used several times interchangeably. However let’s

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Adjusted Gross Income Definition

See Also: Financial Ratios Operating Profit Margin Ratio Net Profit Margin Adjusted Gross Income Margin vs Markup What is Adjusted Gross Income Definition? The adjusted gross income definition (AGI) is a taxpayer’s gross taxable income. It consists of total income minus allowable adjustments. These allowable adjustments, also known as “above the line deductions,” reduce the

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