Business / Taxes / Pretax Income: Pretax income, sometimes described as pretax dollars, is your gross income before income taxes are withheld. Any contributions you make to a salary reduction retirement plan, such as a 401(k) or 403(b) plan, or to a flexible spending account comes out of your pretax income. The contribution reduces your current income and the amount you owe in current income taxes.
Income Adjective Synonyms: return, revenue(s), receipts, proceeds, profit(s), gain(s), takings
Business / Taxes / After-Tax Income: After-tax income, sometimes called post-tax dollars, is the amount of income you have left after federal income taxes (plus state and local income taxes, if they apply) have been withheld. If you cont MORE
Business / Finance / Net Income Before Taxes: Total revenues minus total expenses except the income tax expense, for a specified time. Also known as pretax income. MORE