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Differences between real income and money income?
Money Income :- The income of a person is considered to be money income which is of his own disposal. eg - salary, wages, interest etc. Real Income :- The goods & services which a person buy from the money income is real income.
The amount of money a person has left of his or her income after taxes is called?
disposable personal income
What is the opposite of expences?
Profit, Money in, Income
Is pocket money of a child is National income?
Pocket money given from a parents income is National Income other than money earned by windfall lottery,gambling,transfer income as gift, old age pension from government,scholarship,donations,sale of second hand equipment,commission on sales of second hand goods.
What does the income-expenditure identity say about the relationship between income and expenditure?
The income-expenditure identity states that in an economy, total income equals total expenditure. This means that the amount of money earned by individuals and businesses is equal to the amount of money spent on goods and services.
Differences between real income and money income?
Money Income :- The income of a person is considered to be money income which is of his own disposal. eg - salary, wages, interest etc. Real Income :- The goods & services which a person buy from the money income is real income.
What is the difference between income and expenditure incurred?
Inflow of money is income . Outflow of money is expenditure
Do you get taxed on money saved?
Not taxed again on the after income tax money that you have saved but you are taxed on the earnings from the after income tax saved money.
Do loans count as income for tax purposes?
No, only that money which you earn or interest from investments count as income and it is only income that is taxed, not money that you borrow.
What is the difference between capital income and capital expenditure?
Income is money coming in, expenditure is money going out (spending).
The money income of households consists of the sum of?
The money income of households consists of the sum of wages plus salary.
What is a tax that you pay on the money you earn?
To answer your question, the taxes you pay on the money you earn (salary, income) is called income tax.
Does income tax money go to the federal reserve?
Not all income tax goes to the Federal reserve but all money that goes to the Federal reserve comes from income tax.
Is borrowed money taxable in US?
No the borrowed money would not be taxable income to you that you would report on your 1040 federal income tax return as income in the year that the amount is borrowed.
Amount of money earned?
Income
What is the meaning of aggriculture income?
Agriculture income means money received from the sale of paddy, food grains, sugarcane, fruits, vegetables etc. You can not expect money from the agriculture always. Sometime you may get money. In sometime you may not get anything from the agricultural field due to rain or famine or flood. So the agricultural income is not regular income. That is why there is no income tax for agricultural income.
What state has the lowest income on money?
Mississippi has the lowest income of any state.
