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Income

• The money received from the sale of merchandise or performance of a service

 
 

Follow this link for all the terms related to income.

 
 Embedded terms in definition
 Merchandise
Sale
 
 Referenced Terms
 1099 g: Is a form that reports state Income tax refunds and unemployment compensation to the Internal Revenue Service(IRS).

 1099 misc: Is a form that reports rents, royalties, personal service or profession Income, and other miscellaneous income to the Internal Revenue Service (IRS).

 401 k plan: Is a retirement plan that the employee can set aside a portion of his or her Income. The actual dollar amount is subject to annual change. Benefits of the plan are that it affords portability, reduces the employee's annual gross income for tax purposes, and the employee's contributions are immediately vested. Balances are allowed to grow on a tax-free basis and there are provisions for employer contributions as well.A type of retirement savings plan, used by private firms or nonprofit employers. Also known as a cash-or-deferred.A tax-deferred defined contribution retirement plan offered by an employer.

 Accounting earnings: Earnings of a firm as reported on its Income statement.

 Accumulation: Refers to buying often coincident with market bottoms or consolidations. It also refers to purchases by insiders, control people, or major investors.The value of an individual s savings in an investment fund or deferred annuity until withdrawals or Income payments begin.

 
 Related Terms
 

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How to Ace Your First Test Managing Real Money in the Real World: As a teen, you're beginning to make some grown-up decisions about how to save and spend your money. That's why learning the right ways to manage money…right from the start…is important. Here are suggestions. More...

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