Tax

Taxable Income

Income subject to tax after deductions and exemptions. Calculated as gross income minus above-the-line deductions, then minus standard or itemized deductions.

Related Terms

Gross Income
Tax Deduction
Adjusted Gross Income (AGI)

Related Calculators

Take-Home Pay Calculator

Understanding Taxable Income

Taxable Income is a key concept in tax. Understanding this term helps you make more informed financial decisions. Use our related calculators above to see how taxable income affects your specific situation.