Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,898,552,923 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Earned Income

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.03 sec.
Earned income
Compensation earned from employment, which includes wages, salary, tips, and compensation.
Earned Income
Income from salaries, wages, commissions, tips, bonuses, and any other source related to the work one does. Earned income specifically excludes income from investments. Earned income is taxed at one's regular income tax rate. See also: Marginal tax rate.
earned income
Individual income, such as commissions, salaries, and bonuses, that is derived as compensation for personal services. Compare unearned income.

Earned income. Earned income is pay you receive for work you perform, and includes salaries, wages, tips, and professional fees.

Your earned income is included in your gross income, along with unearned income from interest, dividends, and capital gains. If you have earned income, you're eligible to contribute to an individual retirement account (IRA).

Earned Income
Earned income is income for services rendered as distinguished from income generated by property or other sources. Earned income includes amounts received as wages, tips, bonuses, other employee compensation, and self-employment income, whether in the form of money, services, or property. The definition of earned income is not the same for all income tax provisions. For example, alimony is treated as earned income only for purposes of determining how much an individual can contribute to an IRA.
Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link 		Feedback
Add definition
Mentioned in?  References in periodicals archive?   Financial browser?   Full browser?
 
The friend has earned income of $1,500, from which federal income taxes were withheld.
Unrelated child as a qualifying relative by Hopkins, James M. / Journal of Accountancy
In general, kids who are dependents (who can be claimed on someone else's tax return) must file a tax return if: - they have earned income of $5,700 or higher (this is the standard deduction amount for 2009, the amount for 2008 was $5,450) - they have unearned income (investment income such as interest or dividends from stocks or mutual funds) of $950 in 2009 ($900 in 2008) - they have gross income (both earned and unearned) in excess of the larger of $950 or their earned income plus $300.
Is Your Child Required to File a Tax Return? by Kristine McKinley / Finance and Investment community
21, the Eugene IRS office at 300 Country Club Road will be open to help taxpayers in preparing and electronically filing their federal income tax returns to claim the Earned Income Tax Credit.
BRIEFLY by The Register-Guard (Eugene, OR)
 
 
 
Financial Dictionary
?

Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.