Princeton's WordNet(0.00 / 0 votes)Rate this definition: reference point, point of reference, reference(noun) an indicator that orients you generally. it is used as a reference for comparing the heating and the electrical energy involved.
For Individuals. Gross income is an individual's income and receipts from nearly all sources. It is the starting point for determining the taxes that individual will pay. Sources of gross income include salary, wages, tips, capital gains, dividends, interest, rents, pensions and alimony.
DEFINITION of 'Provisional Income'. The level of income that is used to determine whether a taxpayer is liable for tax on his or her Social Security benefits, and by how much. Provisional income is calculated by making certain adjustments to the taxpayer's gross income.The formula for determining provisional income is as follows:rovisional income = gross income + tax-free interest + 50% of Social Security benefits + any tax-free fringe benefits and exclusions-adjustments to income (except for the student loan deduction, tuition and fees deduction or domestic production-activities deduction). Next Up.