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verb
To calculate net income for tax purposes by adjusting GAAP net income for the differences between GAAP and tax treatments.

The term was originally coined by Tran Chung, a Chartered Accountant while he lectured taxation at the University of British Columbia.
The tax final requires students to taxify net income.

Taxified income contains 50% of meals and entertainment expenses.

taxify by Taxavoider December 17, 2008
Related Words
toxify Toxifying taxify toxiferous Toxified toify tonify Toxif toxific Toxxify
The founder of RXN, and the fastest fortnite builder and editer in the world
Woah, Toxxify's in my game!
Toxxify by Toxxify October 24, 2018
A fat cunt with a annoying voice
Toxific is a fat ass bitch
toxific by DaddyChill42069 July 10, 2021
A place consisting of quitters to afraid to stay at the hottest place on the Internets: OIFY

When OIFY became a locked forum most of the former OIFY'ers bailed out and ran into the TOIFY.
"Dude you saw that guy posting on TOIFY" "Hell yeah, the damn quitter"
toify by BlackBirdNL December 18, 2007

Toxified 

Ajani is Toxified
Toxified by Beaachh June 9, 2019
He loves to Tonify the city.
Fraud? At this time of the night? Fraud?
tonify by Zachary Owen November 2, 2007