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.
Adjusted Gross Income. The FAFSA form requires you to include your adjusted gross income. The adjusted gross income (AGI) is the amount of money you have earned minus the deductions that are withheld from your pay checks.The deductions are generally Social Security, health insurance, 401k deductions, federal and state income taxes.axable Income. Taxable Income is the amount of money you have earned that you will be required to pay taxes on. Upon filing out your taxes you will deduct your exemptions and deductions allowed from your adjusted gross income. The remaining amount is your taxable income.