Taxable Income

Tangible Asset Reading Taxable Income 1 minute Next Taxable Value

Definition:   gross income minus tax deductions; net operating income plus reserve for replacements minus financing costs and allowable depreciation

Pronunciation:    \ˈtak-sə-bəl\  \ˈin-ˌkəm\

Used in a Sentence:   Deductions from taxable income on investment property include operating expenses, financing expense, and depreciation.

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