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)
“Happy are those who find wisdom, and those who get understanding, for her income is better than silver, and her revenue better than gold. She is more precious than jewels, and nothing you desire can compare with her. Long life is in her right hand; in her left hand are riches and honor. Her ways are ways of pleasantness, and all her paths are peace. She is a tree of life to those who lay hold of her; those who hold her fast are called happy.”
—Bible: Hebrew, Proverbs 3:13-18.