HomeTermsCompareFinance Gross IncomeThe definition for Gross Income:The scheduled (total) income, either actual or estimated, derived from a business or property. Similar MatchesAdjusted Gross IncomeAdjusted Gross IncomeGross income of a building it fully rented, less an allowance for estimated vacancies. Gross Income MultiplierGross Income MultiplierA figure which, when multiplied by the annual gross income, will theoretically determine the market value. A general rule of thumb which varies with specific properties and areas. Income AveragingIncome AveragingA method of figuring income tax by paying tax on the average income per year for the past five years. For example: A, a real estate salesperson, earns $10,000 taxable income for 4 years. In the fifth year, A sells a shopping center and earns $100,000 taxable income. A-could take the total income for 5 years ($140,000), divide by 5 ($28,000), and pay tax on $28,000 for the past 5 years, less what A has already paid. Click to compare definitions of Gross Income Click to view definitions beginning gr |