Gross-income Sentence Examples
The MAGI is a taxpayer's adjusted gross income plus the amount of any tax deductions such as IRA contributions, student-loans and college costs.
According to the reports of the Inland Revenue Commissioners, the gross income derived from the ownership of lands in Scotland was returned in1879-1880at £7,7 6 9,3 0 3.
Imagine putting a whole year's gross income into your pension!
Income The questionnaire asked respondents to classify their current personal annual gross income within brackets ranging from under £ 5,000 to over £ 80,000.
Experts evaluate a debt burden as 40 percent of household gross income.Advertisement
Most states will require at minimum the number of children involved, net or gross income of parents, and who pays the insurance premiums.
In addition to the items listed above, "Hardship Deductions" may be made from gross income.
The gross income used in the initial maintenance order shall not be modified to reflect income earned after the divorce is finalized.
In addition, if both child support and alimony payments are ordered, a deduction will be made from the gross income used in the second support calculation to reflect the amount of maintenance already scheduled to be paid.
New reform would cap the alimony amount ordered at 30 to 35 percent of the payer's gross income.Advertisement
While specific figures vary by lender, most insist that your monthly gross income be equal to, or greater than, three or four times the amount of your mortgage payment.
Other factors you may need for mortgage calculations are the zip code of your potential property (to estimate insurance and tax), your gross income and your total monthly debts.
Under this program, the lender is supposed to lower the interest rate so the monthly mortgage payment is 38% or less of their monthly gross income.
The general guideline is that you can give up to 50% of your adjusted gross income in cash contributions, and 30 percent for property.
Requirements include having a gross income at or below 130 percent of the federal poverty level and a net income at or below 100 percent of the federal poverty level, among others.Advertisement
You won't miss the money. 401K contributions deducted from your paycheck are taken out as pre-tax dollars from your gross income.
Any funds received by an eligible employer are not included in the company's gross income.
The IRS limits the amount of these deductions to 7.5 percent of the taxpayer's annual gross income.
Additionally, taxpayers can only deduct charitable donations up to a maximum of 50 percent of their annual gross income.
A deduction is an amount of money which is subtracted from a taxpayer's annual gross income.Advertisement
You will need to estimate your annual gross income to determine the amount you owe.
A good rule of thumb for SEO budgeting is 3% to 10% of your gross income.
The gross income for the year 1907 amounted to £2,702,228, of which £257,920 was paid to the Post Office in respect of royalties.
Gaine, general manager of the company, stated before the Select Committee that in the view of the directors the bargain was a hard one, because it gave no consideration in respect of the goodwill of the great business, with its gross income of over £ 2,000,000 per annum and its net revenue of over £750,000, which the company had built up. The company had had to pay for all the experiments and mistakes which are inherent in the launching and development of any new industry.
The gross income from the state railways is 26,607,622, and the net income 4,684,856 marks.Advertisement
In cases where alimony and child support are ordered, the same gross income calculation is used to create both separate payments.
The net income for the paying parent and the recipient is calculated by deducting the allowable deductions from each party's gross income.
Some grant programs require applicants to submit tax returns or provide information about gross income and itemized deductions.
Positions include boat owner, who receives half of the gross income.
Midland Mortgage Company takes gross income into consideration when pre-qualifying individuals for their mortgage payment.
The MAGI is your Adjusted Gross Income plus any deductions you might be taking on your tax return for student loans, higher education costs, IRA contributions or foreign housing.
Eligibility - The maximum modified adjusted gross income (MAGI) for single taxpayers is $75,000 and $150,000 for married couples.