income

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Related to Income Amount: net income, Annual Income

Income

The return in money from one's business, labor, or capital invested; gains, profits, salary, wages, etc.

The gain derived from capital, from labor or effort, or both combined, including profit or gain through sale or conversion of capital. Income is not a gain accruing to capital or a growth in the value of the investment, but is a profit, something of exchangeable value, proceeding from the property and being received or drawn by the recipient for separate use, benefit, and disposal. That which comes in or is received from any business, or investment of capital, without reference to outgoing expenditures.

income

n. money, goods or other economic benefit received. Under income tax laws, income can be "active" through one's efforts or work (including management), or "passive" from rentals, stock dividends, investments and interest on deposits in which there is neither physical effort nor management. For tax purposes, income does not include gifts and inheritances received. Taxes are collected based on income by the federal government and most state governments.

income

noun allowance, annuity, business profits, commercial profits, compensation, consideration, fees, financial remuneration, financial resources, fringe benefits, gain derived from capital, gain derived from labor, gains, gross, gross income, gross reeurn, increase in amount of wealth, livelihood, means, money coming in, net return, pay, payment, pecunia, periodic returns from property or labor, proceeds, profit from conversion of assets, profit from sale, profits, profits of commerce, quaestus, receipts, recompense, return in money, return on capital, revenue, salary, sale proceeds, something produced by capital, stipend, subsidy, value received, vectigal, wage, wages, wealth
Associated concepts: accumulated income, actual income, affordable housing, aggregate income, annual net income, current income, deferred income, division of income, emmloyment law, estimated income, garnishment of income, gross income, income-bearing property, income execution, income tax, income tax evasion, income yield, legacy, life income, low income, minimum wage, net income, retireeent income, social security income
See also: alimony, annuity, capital, earnings, finance, honorarium, money, pay, proceeds, profit, receipt, recompense, rent, resource, retainer, revenue, substance, wage

INCOME. The gain which proceeds from property, labor, or business; it is applied particularly to individuals; the income of the government is usually called revenue.
     2. It has been holden that a devise of the income of land, is in effect the same as a devise of the land itself. 9 Mass. 372; 1 Ashm. 136.

References in periodicals archive ?
These indicators are included to determine whether the mismatch between the omnibus income item and the aggregated income amount could be attributed to respondents consistently missing or overcounting particular sources of aggregated income in the omnibus income item.
We then employ two different methodologies to evaluate the mismatch between the omnibus income amount and the aggregated income amount.
Then we use a hotdeck imputation (5) procedure to match up those with "missing" income to an aggregated income amount from within the reported omnibus range.
Having additional people in the family makes a family more likely to report a higher aggregated income amount relative to their omnibus income and families with three or more people are also less likely to report their aggregated incomes lower relative to their omnibus income.
There is a significantly higher number of people below 100 percent of FPL using the hotdeck imputation approach to restrict the aggregated income amount to be within the omnibus income category than are in the poverty according to the aggregated amounts.
As expected, the omnibus income amount underestimates family income and, as shown in Figure 1, there is limited direct concordance between the information yielded by the omnibus household income question and the aggregated income amount derived from every family member.
This "cueing" may prompt the respondent to report income that would be a closer match to an aggregated income amount (Tulving 1983).