DB Tax Pro

Taxable income is generally equal to a taxpayer's adjusted gross income during the tax year less any allowable exemptions and deductions.

Tax Planning 101: Gross Margin is a percentage calculated by taking Gross Profit and dividing by Revenue for the same period. It represents the profitability of a company after deducting the Cost of Goods Sold.

Capital Expenditures are ordinary and necessary costs incurred to place an item of property, plant, or equipment in its condition for intended use; such amounts are included in the asset account.