GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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07:00 Dec 26, 2012 |
English language (monolingual) [PRO] Bus/Financial - Law: Taxation & Customs / US-EN types of income | |||||||
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| Selected response from: Yvonne Gallagher Ireland Local time: 14:05 | ||||||
Grading comment
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SUMMARY OF ALL EXPLANATIONS PROVIDED | ||||
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4 +4 | (directly) earned income (derived from personal exertion)/ (solely personal) earned income |
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Summary of reference entries provided | |||
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Personal handiwork. |
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Unearned Income might steer you in the right direction, despite my misgivings |
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Discussion entries: 5 | |
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personal exertion (directly) earned income (derived from personal exertion)/ (solely personal) earned income Explanation: or (solely personal) earned income. You could keep "personal effort or exertion" or make it clear it is an income that is personally earned (salary or wages) rather than unearned income "income from personal exertion/effort" seems to be frequently used in terms of Australian tax law but seems to be less frequent in the US where earned income or earnings seems to be more frequntly used personal exertion income is defined here (for Australia): www.apesma.asn.au/connect/small.../independent_operator.asp "income earned directly from the effort of a person, such as labour or skill." http://www.studentatlaw.com/articles/166/1/Topic-2--Income-f... "...The general principle here is that a gain from a person’s labour, in employment or for personal services, is income under ordinary concepts. Incomes from personal services generally have the following indicia: 1. Payment is linked to the provision of employment or services; 2. The payment is often recurrent 3. Services are provided for the purposes of obtaining a gain. .." In general use though you might substitute "earnings" for income to make it clearer that this is EARNED money. http://en.wikipedia.org/wiki/Household_income_in_the_United_... In the USA "household income" can be made up in various ways. See this link http://en.wikipedia.org/wiki/Household_income_in_the_United_... "Household income is a measure commonly used by the United States government and private institutions. Each household is measured by the income of every resident over the age of 18. Income includes wages and salaries, unemployment insurance, disability payments, child support payments received(child support given does not deduct income measured), regular rental receipts, as well as any personal business, investment, or other kinds of income received routinely. The real median earnings of men who worked full-time, year-round climbed between 2006 and 2007, from $43,460 to $45,113 (about 3.6 times minimum wage in 2006 to 3.7 times minimum wage in 2007). For women, the corresponding increase was from $33,437 to $35,102 (2.8 and 2.9 times minimum ..." -------------------------------------------------- Note added at 7 hrs (2012-12-26 14:36:15 GMT) -------------------------------------------------- oops, meant to remove "solely personal earned income" from header anyway, hope it helps -------------------------------------------------- Note added at 9 hrs (2012-12-26 16:30:30 GMT) -------------------------------------------------- Season's Greetings! -------------------------------------------------- Note added at 5 days (2012-12-31 12:34:42 GMT) Post-grading -------------------------------------------------- glad to have helped:-) I wish you health, wealth and happiness for 2013 (or 5773!) -------------------------------------------------- Note added at 5 days (2012-12-31 14:08:12 GMT) Post-grading -------------------------------------------------- LOL:-) |
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Grading comment
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Notes to answerer
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