Quick Answer: How Do You Describe Income?

What are two types of income?

There are 3 types of income: active income, passive income and portfolio income.

Dictionary.com says: Income for which services have been performed.

This includes wages, tips, salaries, commissions, and income from businesses in which there is material participation..

How do you use income in a sentence?

Examples of income in a Sentence Any income from investments must be reported. Farming is his main source of income. Even on two incomes, we’re having a hard time keeping up with our bills. He earns a good income as a consultant.

What’s the difference between income and wages?

Wages are the property an individual receives in exchange for the products of labor, (net) income is profit or gain.

How do you describe a salary?

Here are some adjectives for salary: merely legitimate, lesser or fictitious, part-time regular, dazzling annual, modest straight, small but reasonable, generous managerial, unearned but fancy, steady and sufficient, former annual, steady, generous, steady but unremarkable, annual basic, wretched official, largest …

How do you say good salary?

good salarygood wage. phr.nice salary. phr.decent salary. phr.good income. phr.good money. phr.good pay. phr.decent pay. phr.great salary. phr.More items…

What pay means?

1a : to make due return to for services rendered or property delivered paid the pizza deliverer. b : to engage for money : hire You couldn’t pay me to do that. paid a teenager to mow his lawn. 2a : to give in return for goods or service pay wages. b : to discharge indebtedness for : settle pay a bill.

What goes on the income statement?

The income statement consists of revenues (money received from the sale of products and services, before expenses are taken out, also known as the “top line”) and expenses, along with the resulting net income or loss over a period of time due to earning activities.

What should I say in salary negotiation?

11 Words and Phrases to Use in Salary Negotiations“I am excited by the opportunity to work together.” … “Based on my research…” … “Market” … “Value” … “Similarly situated employees” … “Is that number flexible at all?” … “I would be more comfortable if…” … “If you can do that, I’m on board.”More items…•

What are 3 types of income?

Understanding The Three Types Of IncomeEarned Income. The first type of income is the most common: earned income. … Capital Gains Income. The next type of income that you can earn is called capital gains income. … Passive Income. The final type of income that you can earn is called passive income.

What are the 5 types of income?

There are five heads of income—salary, income from house/property, profit from business or profession, capital gains and income from other sources.

What is the another word for salary?

What is another word for salary?emolumentpaypaymentstipendwageearningsfeehireremunerationwages235 more rows

What is the opposite of salary?

What is the opposite of salary?billsdebtlosslossespaymentpayoutexpenditureoutgoingsexpenses

What are the 7 sources of income?

Here are 7 Income streams for millionaires.Earned Income. Earned Income is the money that you earn by doing something or by spending your time e.g. the money that you make in your job, the salary you get by working for someone else. … Profit Income. … Interest Income. … Dividend Income. … Rental Income. … Capital Gains. … Royalty Income.

What is annual income?

Annual income is the total income that you earn over one year. Depending on the data that is required to determine your annual income, you may base your income on either a calendar year or a fiscal year.

What is an example of an income?

The definition of income is the amount of money received by a person, group or company during a certain period of time. An example of an income is a $70,000 a year salary.

What is the meaning of income level?

n (Economics) the total of all incomes accruing over a specified period to residents of a country and consisting of wages, salaries, profits, rent, and interest. private income. n an income from sources other than employment, such as investment, (Also called) private means.

Where are goods kept?

Warehouse is a commercial place where one stores good. A person can has his own warehouse, or he can hire the services of someone who deals with warehousing.

What word might describe someone who does a job for money?

Use the adjective prodigal to describe someone who spends too much money, or something very wasteful.

What are the 5 most common types taxable income?

Types of Taxable IncomeEmployee compensation and benefits. These are the most common types of taxable income and include wages and salaries, as well as fringe benefits.Investment and business income. … Miscellaneous taxable income.

What does monthly income mean?

Gross monthly income is the amount of income you earn in one month, before taxes or deductions are taken out. Your gross monthly income is helpful to know when applying for a loan or credit card.