Income

Income

Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For example, a person's income in an economic sense may be different from their income as defined by law. An extremely important definition of income is Haig–Simons income, which defines income as Consumption + Change in net worth and is widely used in economics. For households and individuals in the United States, income is defined by tax law as a sum that includes any wage, salary, profit, interest payment, rent, or other form of earnings received in a calendar year. Discretionary income is often defined as gross income minus taxes and other deductions, and is widely used as a basis to compare the welfare of taxpayers.

Data Source : Wikipedia

• Entity:  Infobox

• Wikidata description:  Consumption And Savings Opportunity Gained By An Entity Within A Specified Timeframe
• Wikidata label:  Income
• Wikidata aliases:  Income, Merit, Earning

• Related Topics:  Income Category, Citizen's Dividend - Citizen's Dividend Is A Proposed Policy Based Upon The Georgist Principle That The Natural World Is The Common Property Of All People. It Is Proposed That All Citizens Receive Regular Payments From Revenue Raised By Leasing Or Taxing The Monopoly Of Valuable Land And Other Natural Resources., Comprehensive Income - In Company Financial Reporting In The United States, Comprehensive Income "Includes All Changes In Equity During A Period Except Those Resulting From Investments By Owners And Distributions To Owners"., Decoupling Of Wages From Productivity - The Decoupling Of Median Wages From Productivity, Sometimes Known As The Great Decoupling, Is The Gap Between The Growth Rate Of Median Income And The Growth Rate Of Gdp Per Person Or Productivity., Disposable Household And Per Capita Income - Household Income Is A Measure Of Income Received By The Household Sector. It Includes Every Form Of Cash Income, E.g., Salaries And Wages, Retirement Income, Investment Income And Cash Transfers From The Government., Income Tax - An Income Tax Is A Tax Imposed On Individuals Or Entities In Respect Of The Income Or Profits Earned By Them. Income Tax Generally Is Computed As The Product Of A Tax Rate Times The Taxable Income. Taxation Rates May Vary By Type Or Characteristics Of The Taxpayer And The Type Of Income., Median Income - The Median Income Is The Income Amount That Divides A Population Into Two Groups, Half Having An Income Above That Amount, And Half Having An Income Below That Amount. The Median Can Be Calculated For Household Income, Personal Income Or Disposable Income.