Sundry Income

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Sundry Income

A company's income that comes from sources other than its operations or investments. Common examples of sundry income include royalties and income from foreign exchange. Sundry income is outside the control of the company. It is also called miscellaneous income.
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Adjusted EBITDA is defined as EBITDA before gains or losses on the sale or disposal of assets, changes in estimated fair value of contingent earn-out consideration, net miscellaneous income and expenses and non-cash compensation expense.
It also includes miscellaneous income and expense reimbursements.
If the person whose debt is discharged is not an employee of the applicable entity, but the debt discharge is nonetheless compensation for services, the compensation should be reported on a Form 1099-MISC, Miscellaneous Income (because under these circumstances, it is compensation, not cancellation of debt income; cancellation of debt income should not be reported on Form 1099-MISC.
Earlier this year, Citibank surprised many of its customers by issuing Forms 1099-MISC, Miscellaneous Income, to report the value of frequent flyer miles the customers had received in exchange for opening new accounts as part of an ongoing promotion.
The bank is said to have sent tax forms to some customers in which frequent-flier miles were recorded as taxable miscellaneous income.
8 million, miscellaneous income grew by five times to reach $19.
Tax authorities consider the pension, including the right to receive it, as inherited assets, but at the same time consider tax cash actually received as miscellaneous income.
The school board voted to use $104,050 from out of district tuition receipts, $50,000 of investment revenue and $10,000 from miscellaneous income - and lower the budget by $17,740 to make up the difference.
Results include charges related to plant closings as well as a deferred tax asset valuation allowance, the company said, adding that also included in the current quarter's results "was miscellaneous income recorded as $3 million.
The payment, part of which became unaccounted for, was reported as miscellaneous income in a report on final accounts submitted to the then Labor Ministry, which was nominally supervising KSD, a provider of industrial accident insurance to small businesses.
It also receives $50,000 in funding from Philip Morris, $67,000 in dues, and $16,000 in miscellaneous income.
Many states assess companies not only for outstanding or voided checks, but also for liabilities that were swept into miscellaneous income or other accounts.
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