Taxable income is a tax accounting term and is also referred to as income before taxes.

Name: Taxable income is a tax accounting term and is also referred to as income before taxes.
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Taxable income refers to the amount of an individual's or a business's income used to calculate how much tax they owe to the government in a given tax year, after all deductions and exemptions. Income before taxes, however, is the gross income minus cost of goods sold and operating expenses, but before taxes are deducted.

Taxable Income Is a Tax Accounting Term and Is Also