Definition

The classification of income, property, or transactions that the government has graciously decided you should share with them. Essentially, anything that brings you joy probably falls into this category. If you earned it, bought it, or even thought about profiting from it, the taxman cometh.

Example Usage

After winning the office raffle, Janet discovered that her new iPad was fully taxable, effectively making it a very expensive lottery ticket.

Source: Common financial terminology

Related Terms

Intermediate

receivables

The collective pile of money that customers owe your business, representing either healthy cash flow or an impending collections nightmare depending on who's on the list. These are debts arising from sales on credit, sitting on the balance sheet as assets while you nervously check if people will actually pay. It's optimism quantified as a line item.

💰 Finance / Accounting
Advanced

actuarial

Relating to those mysterious number wizards called actuaries who calculate risk, probability, and future costs using mathematics that would make most people weep. It's the science of predicting when you'll die, how likely your house is to burn down, and how much money a pension fund needs—cheerful stuff. If it involves insurance, statistics, and existential dread, it's probably actuarial.

💰 Finance / Accounting
Advanced

yield to maturity

The total return anticipated on a bond if held until it matures, accounting for current price, par value, coupon interest, and time to maturity. It's what you'll earn assuming the issuer doesn't default, which is a bigger assumption than bond investors like to admit.

💰 Finance / Accounting
Intermediate

discrepancies

The polite accounting term for 'the numbers don't match and someone's either incompetent or stealing.' These are inconsistencies between what should be and what actually is in financial records, inventory counts, or data sets. Finding discrepancies is either the start of a really boring afternoon of reconciliation or a really exciting fraud investigation.

💰 Finance / Accounting
Beginner

invest

To throw money, time, or your hopes and dreams at something in the expectation that it will magically multiply rather than disappear into the void. In finance, it's the art of delaying gratification while praying to the gods of compound interest. Pro tip: works better with actual research than pure optimism.

💰 Finance / Accounting
Beginner

cost of goods sold

The direct costs of producing goods or services that were actually sold, abbreviated as COGS. It includes materials and labor but not the CEO's golf club membership, no matter how insistently he argues it's 'client development.'

💰 Finance / Accounting

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