Benefit

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benefit

1) n. any profit or acquired right or privilege, primarily through a contract. 2) in worker's compensation the term "benefit" is the insurance payment resulting from a fatal accident on the job, while "compensation" is for injury without death. 3) in income taxation, anything that brings economic gain. 4) "fringe benefits" are rights from employment other than salary or wages, including health or disability insurance. 5) v. to gain a benefit. (See: contract)

BENEFIT. This word is used in the same sense as gain (q. v.) and profits. (q. v.) 20 Toull. n. 199.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.

References in periodicals archive ?

Or perhaps more of your retirement benefit could be subject to taxes.

Cost-Benefit analysis

For a taxpayer who has yet to begin collecting benefits, file and suspend is very simple.

Expert analysis using tax facts online

For employees like Johns, flexibility, benefits and a steady income are part of the appeal to remaining in the work force.

Working warriors: the growing number of people working beyond common retirement ages offers new opportunities for disability carriers and other insurers

* consult widely with the charity sector and the public about the public benefit test;

"Public interest" in new English charities law could be contentious

Then, the Act triggers restrictions on providing further benefits increases and on making lump-sum distributions.

Retirement plan strategies: finding the right balance; Expert advice on the implications, pitfalls and opportunities offered by the Pension Protection Act of 2006 is summarized by Financial Executives Research Foundation (FERF)

Maximizing Empire Zone benefits requires in-depth knowledge of the details of the program and the application process, in addition to an understanding of the tax implications.

Chinatown and Nassau County open Empire Zones for business

Another factor that can vary widely is how long it takes for these benefits to vest.

OPEB unveiled: GASB 45 requires governmental entities to disclose future liabilities

At first blush, the rules concerning fringe benefits seem straightforward.

New IRS focus on fringe benefits

The VA benefits delivery system was designed to be open, informal and helpful to veterans.

Vets shouldn't need to hire lawyers

"Ever more rigorous audit expectations may make a complex and confusing set of rules even more so, but they will enhance the usefulness of CPAs who audit employee benefit plans."

Best practices in EBP audits: regulatory pressure is heating up the market

While African Americans depend on Social Security disability benefits more than whites, when it comes to the retirement portion, it's more an issue of income than of race, says Matt Moore, a senior analyst with the National Center for Policy Analysis.

Privatizing Social Security: do African Americans stand to gain from President Bush's controversial plan?

Binstock, PhD, professor of Aging, Health, and Society at Case Western Reserve University, offered several explanations for why the elderly did not react angrily at the polls to an obvious assault on the concept of universal benefits: