!-- Google Tag Manager (noscript) -->

Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

earnings

Read a random definition: charitable gift annuity

A quick definition of earnings:

Earnings refer to the money that someone makes from working, investing, or owning assets. It can also include money that is set aside for a specific purpose and cannot be used for other things. When someone is unable to work due to injury or job loss, they may be awarded lost earnings as compensation. This money represents what they would have earned if they had not been unable to work.

A more thorough explanation:

Earnings refer to the revenue gained from labor or services, investment of capital, or assets. It is a form of income that individuals or companies receive.

  • Gross earnings: This refers to the total income earned before any deductions or taxes are taken out. For example, if an individual earns $50,000 per year, their gross earnings would be $50,000.
  • Lost earnings: This refers to the income that an individual could have earned if they had not lost their job, suffered a disabling injury, or died. For instance, if a person was unable to work due to an injury, they may be awarded lost earnings as damages in a personal injury case.
  • Appropriated retained earnings: These are retained earnings that a company's board designates for a specific purpose and are therefore unavailable for other uses. For example, a company may appropriate retained earnings for research and development purposes.

The examples illustrate how earnings can be earned through various means such as labor, investment, or assets. Gross earnings show the total income earned before any deductions or taxes are taken out. Lost earnings refer to the income that an individual could have earned if they had not lost their job, suffered a disabling injury, or died. Appropriated retained earnings are retained earnings that a company designates for a specific purpose and are therefore unavailable for other uses.

earning capacity | earnings and profits

Warning

Info

General

General chat about the legal profession.
main_chatroom
๐Ÿ‘ Chat vibe: 0 ๐Ÿ‘Ž
Help us make LSD better!
Tell us what's important to you
LSD+ is ad-free, with DMs, discounts, case briefs & more.