taxable income
- The net amount of income, after subtracting all permitted deductions, adjustments, and exemptions, that an individual or business is liable to pay taxes on
- The Smiths have a high taxable income since their business did well this year.
- John needs to figure out his taxable income before he can complete his tax return.
- After all deductions and exemptions, the company's taxable income was surprisingly low.
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