Imputed income is the accession to wealth that can be attributed, or imputed, to a person when he or she avoids paying for services by providing the services to himself or herself, or when the person avoids paying rent for durable goods by owning the durable goods, as in in the case of imputed rent.
Read more about Imputed Income: Taxation of Imputed Income
Famous quotes containing the words imputed and/or income:
“In the U.S. for instance, the value of a homemaker’s productive work has been imputed mostly when she was maimed or killed and insurance companies and/or the courts had to calculate the amount to pay her family in damages. Even at that, the rates were mostly pink collar and the big number was attributed to the husband’s pain and suffering.”
—Gloria Steinem (20th century)
“Italy is such a delightful place to live in if you happen to be a man. There one may enjoy that exquisite luxury of Socialism—that true Socialism which is based not on equality of income or character, but on the equality of manners. In the democracy of the caffè or the street the great question of our life has been solved, and the brotherhood of man is a reality. But it is accomplished at the expense of the sisterhood of women.”
—E.M. (Edward Morgan)