Your employee income tax is calculated as a fraction of your overall ________, be it through wages or salary, but not your gains from invested savings."
what do I put down in the ______ ? Is it "income"? Something else?
Depends on what country (legal jurisdiction) you're in, and the context of the document or conversation. What others have suggested:
The conditions on the left side and right sides of your snippet really narrows the field:
be it through wages or salary, but not your gains from invested savings
Like I said, it's a context issue. Writing a legal document? Policy document?
If you were writing a conditional job offer, a brochure, or in a face-to-face with a recruit or employee, my choice would be compensation package. That's the common phrase in those forum.
edited for spelling errors
: an amount of money paid to someone for the work that person has done
A worker is "compensated" for his/her labor, whether by the hour (wages) or by the year (salary).
Sometimes, to make clear that the compensation includes tips, bonuses, stock options, perks, or other money received from an employer (in addition to salary or wages) people use the term:
Note: there is also Workers' Compensation, usually paid by the state, to workers who are unable to work for a period. This is compensation for hours not worked, and is often not considered "income" ** for tax purposes**. The IRS does not consider it part of one's AGI (Adjusted Gross Income), so it is not taxable at the federal level. (It is, in a sense, an insurance payout, as it is funded by premiums in the form of payroll deductions). Various states, however, might treat Workers' "comp" differently with regard to taxation. Unemployment compensation is similarly funded, by unemployment insurance premiums deducted from workers' paychecks, and may be treated similarly for tax purposes.
I would personally use "earnings" in lieu of income:
Earnings: money obtained in return for labour or services, or income derived from an investment or product.
The Internal Revenue Service in the US refers to it as earned income.
You cannot work only thinking about the remuneration and not the job itself.
The earnings of a salesperson usually correspond to their experience and the quantity of sales done.
The software firm ensured a pay hike to most of the senior level employees.
Any of these are good as the answer to your question.
Income: a gain or recurrent benefit usually measured in money that derives from capital or labor; also: the amount of such gain received in a period of time
Merriam Webster Dictionary
Anyone with income over a certain amount must pay federal income taxes. Most states also impose an income tax, and in some places there are local income taxes as well. As we discussed in Income Taxes, tax rates vary by the amount of income and whether you're a single filer or married filing jointly.
from Schwab Moneywise
A less-used alternative might be emoluments:-
the returns arising from office or employment usually in the form of compensation or perquisitesn [Merriam-Webster]
In the employment snobbery scale, wages are good, salary is better, and fees quite desirable, but emoluments are best of all.