The phrase "allowed income" is correct and usable in written English.
It can be used in contexts related to finance, taxation, or regulations where specific income levels are permitted or authorized.
Example: "The allowed income for this tax bracket ensures that individuals do not exceed the limits set by the government."
Alternatives: "permissible income" or "authorized income".
They allowed incomes for most families to stagnate, which made savings a luxury that many couldn't afford and debt a way to finance rising living standards.
Several authorities also allow income tax credits for residential property taxes.
WASHINGTON — The chances of Congress allowing income tax rates to go up only for millionaires: slim.
They also explored setting up funds using foreign corporations that allow income to flow through to their owners as capital gains.
The refusal of a band of House Republicans to allow income tax rates to rise on incomes over $1 million came after Mr. Obama scored a decisive re-election victory campaigning for higher taxes on incomes over $250,000.
To prevent this type of double taxation, many countries have developed double taxation treaties that allow income recipients to offset the tax already paid on investment income in another country against their tax liability in their country of residence.
The legislation creating the tax did not allow income to be adjusted for inflation, meaning that millions of additional nonwealthy families will fall under its requirements and face sharply higher taxes in the years ahead.
And this, of course, is why most closely held small businesses are subchapter S corporations, whose structure allows income to flow untaxed to the owners of the company, who then pay taxes individually but only once.
Senator Benjamin L. Cardin, Democrat of Maryland, proposed a tax on "consumption" — goods and services — which would allow income tax rates to be reduced for middle-class earners and small businesses, and phased out for those earning below a certain threshold.
The Democrats' version, favored by President Obama, would extend current Bush-era tax rates and other tax breaks for the middle class and working poor, while allowing income tax, capital gains and dividend rates to rise on earnings over $250,000.
