Income
/ˈɪnkʌm/
Definitions
- (n.) Money received, especially on a regular basis, for work or through investments.
Her monthly income covers all living expenses.
- (n.) The financial gain from capital or labor, often subject to taxation.
The government levies tax on taxable income.
Related terms
Commentary
Income generally refers to all sources of monetary gain but should be defined precisely in contracts to include or exclude specific types.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.