Income

Income is the consumption and savings opportunity gained by an entity within a specified timeframe, that is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received... in a given period of time."

For firms, income generally refers to "net-profit"—what remains of revenue total after expenses have been subtracted. In the field of public economics, the term may refer to the accumulation of both monetary and non-monetary consumption ability, with the former (monetary) being used as a proxy for total income.

Read more about Income:  Increase in Income, Economic Definitions, Income Inequality, Income in Philosophy and Ethics, Accountancy

Other articles related to "income":

Income Tax
... An income tax is a tax levied on the income of individuals or businesses (corporations or other legal entities) ... Various income tax systems exist, with varying degrees of tax incidence ... Income taxation can be progressive, proportional, or regressive ...
Yield (finance)
... stated rates of return on stocks (common and preferred, and convertible), fixed income instruments (bonds, notes, bills, strips, zero coupon), and some other ... It may be used to state the owner's total return, or just a portion of income, or exceed the income ...
Tennessee - Economy
... In 2003, the per capita personal income was $28,641, 36th in the nation, and 91% of the national per capita personal income of $31,472 ... In 2004, the median household income was $38,550, 41st in the nation, and 87% of the national median of $44,472 ...
Income Tax - Types - Personal
... A personal or individual income tax is levied as a percentage of a person's wages and salaries, with some deductions permitted, along with the net income or loss from businesses and investments ... Income tax systems typically offer exemptions, deductions, or credits which lessen the total tax liability these are frequently a method of rewarding income-use-patterns encouraged by the ... Tax structures may allow losses from one type of income to be counted against another ...
Income - Accountancy
... Accounting Standards Board (IASB) uses the following definition "Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of ...

Famous quotes containing the word income:

    I had always been so much taken with the way all English people I knew always were going to see their lawyer. Even if they have no income and do not earn anything they always have a lawyer.
    Gertrude Stein (1874–1946)

    Work though we must, our jobs do not automatically determine our priorities concerning our marriages, our children, our social life, or even our health. It’s still life, constrained as it may be by limited disposable income or leisure time, and we’re still responsible for making it something we enjoy or endure.
    Melinda M. Marshall (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.