Definition

1. Noun:
   • The money received, especially on a regular basis, for work or through investments: "Income" refers to the financial gain that accrues to an individual, household, or entity over a specific period, such as a week, month, or year. It can be earned (e.g., from employment) or unearned (e.g., from investments, rent, or pensions).

Usage

• "Income" is a non-count noun when referring to the general concept or a total amount. It can be used as a count noun when referring to different types or sources.
• It is commonly modified by adjectives (e.g., annual, monthly, high, low, taxable, disposable) and is often followed by prepositions like "from" to indicate the source.
• Example structures:
  • to earn an income
  • a source of income
  • income from investments

Examples

• Noun:
  • His primary income comes from his job as a software engineer.
  • The government taxes income at various rates.
  • They have a steady income from renting out the apartment.
  • Retirement planning requires considering your future income.

Advanced Usage

• "Disposable income": The amount of money left after taxes have been paid, available for spending and saving.
  • After the tax cut, households saw an increase in their disposable income.
• "Passive income": Earnings derived from a rental property, limited partnership, or other enterprise in which a person is not actively involved.
  • She receives passive income from her stock dividends.
• "Fixed income": An investment that provides a return in the form of fixed periodic payments, such as bonds; also used to describe individuals who rely on a pension or annuity.
  • Many retirees live on a fixed income.

Variants and Related Words

• Earnings (n): Money obtained in return for labor or services. Often used interchangeably with "income" from employment.
• Revenue (n): The total income produced by a source, especially a company or government. It is a broader term often used in business contexts.
• Profit (n): A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something. This is a subset of income, typically for businesses.

Synonyms

• Earnings: Wages or salary obtained from working.
• Revenue: Income, especially of a company or organization.
• Proceeds: The money obtained from an event or activity.

Related Phrases

• Income bracket: A category of people or households that earn within a particular range of income.
  • The tax credit applies to those in a lower income bracket.
• Income statement: A financial report that shows a company's revenues and expenses over a specific period, resulting in net profit or loss.
  • The quarterly income statement showed strong growth.
• Income tax: A tax levied directly on personal or corporate income.
  • You must file your income tax return by April 15th.

Idioms

• To live within one's income: To spend less money than one earns.
  • Financial advisors always recommend living within your income.
• To live beyond one's income: To spend more money than one earns.
  • Using credit cards excessively can lead to living beyond your income and accumulating debt.

Noun

1. the financial gain (earned or unearned) accruing over a given period of time