income
n.
amount of money received in payment for goods or services or from other sources; revenue, profits
Income
Income, generally defined, is the money that is received as a result of the normal business activities of an individual or a business. Internationally, the accounting term income is synonymous to term
revenue minus expenses. The
International Accounting Standards Board uses this definition:Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants. [F.70] (IFRS Framework)
See more at Wikipedia.org...
income
Noun
1. the financial gain (earned or unearned) accruing over a given period of time
(antonym) outgo, expenditure, outlay
(hypernym) financial gain
(hyponym) disposable income
Income
(n.)
That which is taken into the body as food; the ingesta; -- sometimes restricted to the nutritive, or digestible, portion of the food. See Food. Opposed to output.
(n.)
That which is caused to enter; inspiration; influence; hence, courage or zeal imparted.
(n.)
That gain which proceeds from labor, business, property, or capital of any kind, as the produce of a farm, the rent of houses, the proceeds of professional business, the profits of commerce or of occupation, or the interest of money or stock in funds, etc.; revenue; receipts; salary; especially, the annual receipts of a private person, or a corporation, from property; as, a large income.
(n.)
A coming in; entrance; admittance; ingress; infusion.
Webster's Revised Unabridged Dictionary (1913), edited by Noah Porter.
About
Tax, Income
TAX, INCOME - Any tax levied on, with respect to, or measured by, net income, gross income, or gross receipts. 4 USC