Business Income


Also found in: Acronyms.

Business Income

The money a person or company receives from doing business, especially in the course of a year. For example, if a mechanic repairs a car and is paid, he/she receives business income. It is taxable, but one may remove expenses from business income when calculating the portion that is taxed.
References in periodicals archive ?
Answer: Business income coverage is for direct loss of income; if the tenants no longer paid rent while the building was being repaired, that would be business income.
Here, Jack's business income of $50,000 is less than his taxable income of $133,500.
Historically, each source of business income needed to be apportioned on a business-by-business basis and reported on a separate SBD form to take the SBD on the Ohio individual income tax return.
The baseline is used to evaluate or measure the amount payable for business income under various claims scenarios.
By linking 2011 partnership and S corporation tax returns with federal individual income tax returns, in particular Form 1065 and Form 1120S K-1 returns, the researchers find that over 66 percent of pass-through business income received by individuals goes to the top 1 percent.
As hard as it is to estimate the maximum possible damage for property insurance, it's harder to estimate the time needed to restore facilities for business income insurance.
Similar to the CP 00 30, business income (and extra expense), the CA 99 05 offers both coverages in a single form.
Between Tax Years 2008 and 2009, gross unrelated business income decreased, while reported deductions remained relatively stable.
In addition, Brown said even if the property owner did arrange for flood and wind coverage including business income and loss of rents, the "normal period of restoration" poses a problem.
In support, they cite the Joint Committee on Taxation estimate that in 2011, people in the top two tax brackets will report half of the approximately $1 trillion in total net business income reported on individual tax returns.
Indirect loss is also known as time element protection, business interruption and business income coverage.
JCR will watch whether or not the bank can ensure the balance of loans and maintain gross business profit and core net business income supported by the agricultural business, in which the bank generated results thanks to its undertaking ahead of other banks, through its measures to strengthen its earnings power (promotion of loans to SMEs and expansion in the assets in custody) under the new medium-term management plan.

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