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compensation |
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Compensation Arrangement under which the delivery of goods to a party is paid for by buying back a certain amount of the product from the recipient of the goods. Compensation Payment for services rendered. One is due compensation when one has performed a service for an employer or client. Examples of compensation include wages, salaries, tips, fees, and commissions. Compensation is usually the primary component of an individual's tax liability. compensation (1) Payment for goods or services.(2) Damages necessary to restore an injured party to his or her position before the wrongdoing.(3) In eminent domain, payment to property owners for the value of the property taken and any damage caused to the value of the remaining property. Compensation Wages, commissions, tips, professional fees, and net self-employment income received for services rendered; that is, earned income. 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. |
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