income

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Related to Income Amount: net income, Annual Income

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 ?
The first level is the whether the aggregated income amount falls within the same income category the respondent provides on the omnibus income item (the response values for the omnibus income item are provided in Figure 1); the second level is if the aggregated income amount is one or more lower than the omnibus income category; and the third level is if the aggregated income amount is one or more higher than the omnibus category.
In North America, net sales amounted to Yen1,015.3 billion, a decrease of Yen15.1 billion or 1.5 % compared to the corresponding period in the previous fiscal year, and operating income amounted to Yen28.7 billion, an increase of Yen13.1 billion or 83.9 % compared to the corresponding period in the previous fiscal year.
The company said that its non-GAAP net income amounted to USD2.3bn, a decrease of 5.1% from USD2.5bn in the third quarter of the prior year.
Announcing the results on Monday, the bank said its net pretax and after provisions income amounted to $486.8 million during 2010, while operational revenues amounted to $1.76 billion compared to $1.77 billion for the previous year.
Net interest income amounted to EUR 1.3 million, down from EUR 2.2 million in the first three quarters of 2009.
said fourth-quarter net income amounted to $193,000, or 4 cents a share, compared with $649,000, or 13 cents a share, during the fourth quarter of 2007.
62(a)(2)(A) excludes from an employee's gross income amounts paid by an employer under certain arrangements (plans) that govern the reimbursement of business expenses incurred by the employee.
Net additions to income amounted to $919 million, primarily representing unrealized gains on assets denominated in foreign currencies that are revalued to reflect current market exchange rates.
In the first half of 2000 the company's net income amounted to 3 billion Swiss francs.
Operating income amounts to Euro 5,002 million (9,685 billion Lire), an increase of Euro 2,646 million over the first half of 1999, up 112% (118% before non-recurring items) Net financial income was Euro 49 million (95 billion Lire), a drop of Euro 4 million or 7.5%.
Using these hypothetical net income amounts, ROA and ROE ratios were recomputed.
The pre-tax income amounted to a loss of SEK297m during the period as compared with a negative SEK11m during the same period a year before.