income

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Income

The money a person makes from labor, investment, or any other source, especially in the course of a year. Receiving income is the goal of all commerce. It is usually taxed by the government. See also: Income tax.

income

money received by individuals, firms and other organizations in the form of WAGES, SALARIES, RENT, INTEREST, COMMISSIONS, FEES and PROFIT, together with grants, unemployment benefit, old age pensions, etc. See EARNED INCOME, DISTRIBUTION OF INCOME.

income

money received by individuals and firms in the form of WAGES, SALARIES, RENT, INTEREST, PROFIT, etc., together with unemployment benefit, old age pensions, etc. In microeconomic analysis, the term ‘income’ is used specifically to refer to the flow of returns over a period of time from providing FACTORS OF PRODUCTION (NATURAL RESOURCES, LABOUR and CAPITAL) in the form of rent, wages and interest/profit, respectively. In macroeconomic analysis, the term NATIONAL INCOME is used to refer to the aggregate income of a country from rents, wages, interest and payments, excluding TRANSFER PAYMENTS (unemployment benefit, old age pensions, etc.).

More generally, from the point of view of the individuals concerned, any money received counts as income (whether it be from providing factors of production or takes the form of an old age pension, unemployment benefit or other transfer payment). Any such FINAL INCOME is an important determinant of an individual's spending capabilities in the THEORY OF DEMAND. See CIRCULAR FLOW OF NATIONAL INCOME MODEL, DISPOSABLE INCOME, FUNCTIONAL DISTRIBUTION OF INCOME, PERSONAL DISTRIBUTION OF INCOME.

income

(1) For IRS purposes, income is never precisely defined, but it apparently includes all moneys received from any sources unless specifically excluded by some IRS Code provision. (2) In business, all the revenues derived from the business, less all expenses. Many people use the word income interchangeably with revenues,but revenue implies a gross figure without deductions,and income implies an amount after expenses.

Income

The word "income," in its broad sense, is the gain derived from capital, labor, or a combination of the two. It is distinguishable from the capital itself. Ordinarily, for income tax purposes, the word "income" is not used alone. Rather it is used within such descriptive terms as gross income, taxable income, and adjusted gross income, all of which are defined elsewhere in this glossary.
References in periodicals archive ?
MLP High Income Index (the "Index") is the exclusive property of Cushing[sup.
The next two sections argue that this pattern across the two counties--higher cyclicality for those at the top of the income distribution--is representative of a close relationship and potentially a common cause of both high income shares and high cyclicality at the top in the period since the early 1980s.
A Theory of Why Very High Income Individuals Have Higher and More Cyclical Incomes than in the Past
If tenant concedes income exceeded $250,000 in each of two prior calendar years, owner files ICF together with Petition by Owner for High Income Rent Deregulation (OPD) by June 30.
As a result of the Acquisition, each holder of ACM Managed Dollar common stock will receive shares of AllianceBernstein Global High Income common stock having an aggregate net asset value ("NAV") equal to the aggregate NAV of the stockholder's shares in ACM Managed Dollar.
There may be a final distribution of income and/or capital gains for ACM Managed Dollar and/or AllianceBernstein Global High Income made prior to the Acquisition.
CONTACT: Shareholder Contact, +1-800-221-5672, for AllianceBernstein Global High Income Fund, Inc.
First Trust Strategic High Income Fund (the "Fund") (NYSE: FHI) today announced a long-term capital gain distribution of $0.
CONTACT: Shareholder Contact, AllianceBernstein Global High Income Fund, Inc.
CONTACT: AllianceBernstein Global High Income Fund, Inc.
The report also shows that an additional 18,000 Americans with high incomes paid less than 5 percent of their income in taxes.
With those high incomes come higher income tax brackets and - you guessed it - a higher tax burden.

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