| Dictionary, Encyclopedia and Thesaurus - The Free Dictionary 1,505,192,038 visitors served. |
|
Dictionary/ thesaurus | Medical dictionary | Legal dictionary | Financial dictionary | Acronyms | Idioms | Encyclopedia | Wikipedia encyclopedia | ? |
Earned Income |
Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia, Hutchinson | 0.04 sec. |
|
Earned income Compensation earned from employment, which includes wages, salary, tips, and compensation.
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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
|
| ? Mentioned in | ? References in periodicals archive | |
|---|---|---|
income taxation to 300/0 of the annual earned income exclusion amount (as indexed for inflation); for 2006, that amount is $82,400. citizens or residents living abroad have been allowed to exclude certain foreign earned income and housing costs from taxable income, regardless of whether any foreign tax is paid on these amounts, under IRC section 911. Under the old law, for 2004, the child credit was refundable to the extent of 10 percent of the taxpayer's taxable earned income (which is taken into account in determining taxable income) in excess of $10,750 (indexed for inflation). |
| Financial Dictionary |
| Free Tools: |
For surfers:
Browser extension |
Word of the Day |
Help
For webmasters: Free content | Linking | Lookup box | Double-click lookup | Partner with us |
|---|