March 2017

What is actual gross income? Effective gross income (EGI) is the potential gross rental income plus other income minus the vacancy and credit costs of a rental property. EGI can be calculated by taking the potential…

What is Net Foreign Factor Income (NFFI)? Net Foreign Factor Income (NFFI) is the difference between a country's gross national product (GNP) and its gross domestic product (GDP). Key points to remember The net…

What is the gross income test? The gross income test is one of five necessary tests that dependents must pass before they can claim this title in the United States. The gross income test states that dependents cannot…

What is a gross income multiplier? A gross income multiplier (GIM) is a rough measure of the value of an investment property. It is calculated by dividing the selling price of the property by its gross annual rental income.…

Taxable income vs gross income: an overview Gross income includes all income you receive that is not explicitly exempt from tax under the Internal Revenue Code (IRC). Taxable income is the part of your gross income that is…

Gross income versus earned income: an overview The distinctions between gross income and earned income are particularly important to understand when it comes to tax accounting. If you report either incorrectly, you could end…

While most dividends paid by corporations or mutual funds to shareholders are considered ordinary dividends, some may be considered eligible dividends. In these cases, your dividend income is subject to the capital gains tax rate…

A member of Buntal's family sells bubuk at a temporary roadside stall. MIRI: Here, the full-time and part-time fishermen are happy with the return of the bubuk season which brings them additional income once a year. 'Bubuk' are tiny…