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 ?
The condition for loss determination explains how business income loss and extra expense payments are determined.
Qualified business income includes domestic income from a trade or business.
Example 1: In 2018, A, a married taxpayer, has $100,000 of qualified business income, $100,000 of long-term capital gain, and $30,000 of deductions, resulting in taxable income of $ 170,000.A's Sec.
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.
Contrary to our first example, here, Jill's taxable income of $73,000 is less than her eligible business income of $100,000.
Unrelated business income is produced from an activity that is conducted on a regular basis and is not directly related to an organization's tax-exempt mission.
The baseline is used to evaluate or measure the amount payable for business income under various claims scenarios.
business income; by 2011, they represented 54.2 percent.
In international business theory, the effect of double business income taxation on corporate behavior is unclear.
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.
Technically, ISO's commercial property business income policies did not exclude auto-based property such as the food truck exposure, as long as the loss was due to a covered peril.
One way to protect your cash flow and company's bottom line is to get business interruption insurance (also called business income insurance).

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