Difference between revisions of "Income"
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| − | '''Income''' | + | '''Income''' - As used in the generic sense, refers to money earned, generally through [[labor]] or [[investment]]. In the United States, income is generally calculated and related in dollars/year. |
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| + | '''Income''' - As used in the U.S. Tax Code, refers to federally-connected activities and investments, the value of which is measured by the monetary receipts produced therefrom. | ||
[[category:accounting]] | [[category:accounting]] | ||
Revision as of 00:05, March 16, 2008
Income - As used in the generic sense, refers to money earned, generally through labor or investment. In the United States, income is generally calculated and related in dollars/year.
Income - As used in the U.S. Tax Code, refers to federally-connected activities and investments, the value of which is measured by the monetary receipts produced therefrom.