Income

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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. 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 classic literature ?
The knowledge of Sir Percival's affairs which I had necessarily gained when the provisions of the deed on HIS side were submitted in due course to my examination, had but too plainly informed me that the debts on his estate were enormous, and that his income, though nominally a large one, was virtually, for a man in his position, next to nothing.
"As to that, my sweet Catherine, there cannot be a doubt, and you know me well enough to be sure that a much smaller income would satisfy me.
She was busily searching through the neighbourhood for a proper situation for her daughter, and, without knowing of considering what their income might be, rejected many as deficient in size and importance.
He had a partner, he said, who was strong and determined, and they had presents, to get which he had mortgaged the last penny of his income. It was a desperate enterprise perhaps, but it suited him, and he went on to tell me this, Ernestine.
Think of Annabella, think of the family, think of the fifty pounds--an income, a year's income to a prudent man.
"He is a millionaire -- his income is 500,000 francs."
"One of the most agreeable possible, my dear sir; he will allow you an income of 50,000 livres per annum during the whole time of your stay in Paris."
As to your rank, an annual income of 50,000 livres will enable you to support it admirably.
"Am I to consider this as part of my income on account?"
She lives in reputation at the polite end of the town, and is so good an economist, that she spends three times the income of her fortune, without running into debt.
Reported median incomes vary by geographic region, as shown in Figure 2.
As incomes change, economic conditions improve, and social security programs rise, and the median also rises.