Is there only one definition for "Income"?

[JWR]

I have been trying to find a definition for the general term "Income" other than the one used for income tax puroses (this just would not apply). For a little bit of what I am looking for without me retyping everything I did over at Family Guardian, here is the LINK to my post over there.

JWR

[vanton57]

Merriam-Webster's Collegiate Dictionary 10th Edition

income - n 1. a coming in : ENTRANCE, INFLUX <fluctuations in the nutrient ~ of a body of water> 2. a gain or recurrent benefit usu. measured in money that derives from capital or labor; also : the amount of such gain received in a period of time <has an ~ of $20,000 a year>

Black's 5th Edition

Income - The return in money from one's business, labor, or capital invested; gains, profits, salary, wages, etc.
The gain derived from capital, from labor or effort, or both combined, including profit or gain through sale or conversion of capital. Income is not a gain accruing to capital or a growth in the value of the changeable value, proceeding from the property, severed from the capital, however invested or employed and coming in, being derived, that is, received or drawn by the recipient for his separate use, benefit and disposal. Goodrich v. Edwards, 255 U.S. 527, 41 S.Ct. 390, 65 L.Ed. 758. The true increase in amount of wealth which comes to a person during a stated period of time..
See also Allocation of income; Blocked income; Clear reflection of income; Constructive receipt of income; Deferred income; Earned income; Earnings; Fixed income; Gross income; Net income; Net operating income; Personal income; Profit; Split income; Taxable income; Unearned income.

Might also want to check out compensation

i.e.

You own a business: from this perspective Labor to produce a product is an expense/cost of producing a product. The money received for the product minus all the expenses/costs of producing the product is the income or gain.

(If you read enough of Title 26, you can find it buried in there if you don't go insane first.)

You are an employee of the business: from this perspective, if you are referring to your own labor are you the one actually making the gain referred to? Does your time cost you anything? (I found a court brief once where the atty. argued that your time costs nothing so you are making a profit. Was going to write a point by point rebuttal, but cannot locate the doc again.) Anyway does your time/labor cost you anything? Not in monetary terms but you sure a heck bet is does. The creator only gives us a certain amount of time in this realm, and every second costs you a small portion of your life force. Now In those terms, what was the capital investment worth and what was the return on investment a.k.a. (ROI)?

[JWR]

I guess what I need to know is 1) is what you recieve from a personal injury settlement considered "Income" and 2) can back child support be considered "Income"? But not from the standpoint of the IRS. I'm talking HUD and SSA.

The reason is because they say it is, but my opinion is that they are not the same. I need to know so we can try to keep this "money" out of their grubby little mits.

JWR

JWR, order the book by Pete Hendrickson, called "Cracking the Code", his website is www.losthorizons.com. this book is well worth the $20.00 to order it, and will clear up or help you with some of these "in the dark" questions you have about what is income. There are success stories with this book and proof in the book of people that got the truth, got alot of money back that they overpaid over the years. After you get this, read it, absorb it, you'll know why the IRS is mostly smoke and mirrors, even though when it comes down to the nitty gritty, they won't or don't answer your questions for them to prove their case, if they have one against you. This book is the best thing I've seen about taxes and everything that goes with it!!!