gross up

verb

1. (tr, adverb) to increase (net income) to its pretax value

Example Sentences

A lot of companies stopped picking up the tab for country-club memberships and curbed “gross up” payments, which make perks even sweeter by covering the taxes that accompany them.

Read more on The Wall Street Journal

All Blanche could conjure up was the mind-boggling insistence that Weisselberg’s written words—“gross up”—“were a lie!”

Read more on Slate

But a defendant’s knowledge is almost always proved circumstantially; the elaborate scheme to “gross up” and therefore disguise the $130,000 reimbursement to Cohen demonstrated a consciousness of guilt sufficient to prove knowledge of illegality.

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Prosecutors have provided jurors with financial records - including checks drawn from Trump’s own bank account signed by the former president himself, and handwritten notes outlining a plan to “gross up” payments to Cohen to cover his taxes – allegedly linking Trump with the reimbursements to Cohen for the hush-money payments.

Read more on Salon

Those handwritten notes laid out that the Trump Organization was to pay Cohen $180,000 in reimbursements—$130,000 for the Stormy payment and $50,000 for another more legitimate reimbursement—then double it to “gross up” and “pay for taxes,” in addition to a $60,000 bonus for Cohen himself.

Read more on Slate