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 is gross income less deductions from a business or rental activity and 21 other specific items.Several deductions (e.g. medical expenses and miscellaneous itemized deductions) are limited based on a percentage of AGI.djusted gross income is gross income less deductions from a business or rental activity and 21 other specific items.