gross income

noun

1. Accounting.,  total revenue received before any deductions or allowances, as for rent, cost of goods sold, taxes, etc.

Example Sentences

This will create even more room in each tax bracket for people in that age group, as these sums are deducted from gross income to get to the amount on which the tax is based.

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The two main numbers you’re looking at are ordinary income and total taxable income — commonly referred to as adjusted gross income or AGI.

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That would give them an adjusted gross income of $145,500 after subtracting $32,200 for the standard deduction, $1,650 each for the additional standard deduction for their age group and $6,000 each for the new additional senior deduction.

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“Take actions that make time work for you, not against you. From a broader perspective, young high earners can often save 20% to 40% of their gross income when lifestyle costs are still modest.”

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This surcharge starts once modified adjusted gross income exceeds certain amounts, which in 2025 is $106,000 for single filers and $212,000 for married couples filing jointly.

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