Seasonal income definition

Seasonal income means income that is earned from regularly reoccurring employment that lasts for 26 weeks or less in any 52-week period.
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Seasonal income means earned income that is received at regular intervals for only part of the year.
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Seasonal income means income that is ordinarily received from a given source during any period of six consecutive months of the year of assessment of the person receiving such income.
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Examples of Seasonal income in a sentence

  • Seasonal income is considered contractual income if it is income meant to cover the other six months when not working.

  • Seasonal income is considered uninterrupted if the Borrower has worked the same job for the past two (2) years and expects to berehired during the next season.

  • Seasonal income or irregular income must be averaged over a period of time.

  • Seasonal income and expenditure fluctuations, mainly within the span of a year, are plentiful.

  • Seasonal income is considered uninterrupted, and may be used to qualify the borrower, if the lender documents that the borrower: Has worked the same job for the past two years, and  Expects to be rehired the next season.

  • Employment Income, Self-employment, Seasonal income, Overtime, AISH and Pension Income, Child Tax Credit, etc.

  • Here’s another example.Some people may only receive child or spousal support payments sporadically and in varying amounts, even though they are supposed to be paid regularly.• Seasonal income may be predictable, but it comes only at particular times of the year.

  • Seasonal income or the dummies for seasonality failed to reveal any relationship.

  • Seasonal income is considered stable and eligible for qualifying purposes if the income has been received for 1 full calendar year.

  • Seasonal income is considered uninterrupted, and may be used to qualify the borrower, if the lender documents that the borrower:Has worked the same job for the past two years, and Expects to be rehired the next season.

Related to Seasonal income

  • Family income means all income that is included in a determination of family income under section 143(f) of the internal revenue code, 26 USC 143(f), together with the income of all adults who will reside in the residence, which income might otherwise be excluded from consideration because the individual was not expected to both live in the residence and be primarily or secondarily liable on the mortgage note.

  • Household income means the combined income of the members

  • Moderate-income household means a household with a total gross annual household income in excess of 50 percent but less than 80 percent of the median household income.

  • Applicable Wages means the basic straight time wages for all hours worked, including:

  • Median income means the median income by household size for the applicable housing region, as adopted annually by COAH or a successor entity approved by the Court.

  • Seasonal employee means a state employee hired to work during a recurring, annual season with a duration of three months or more, and anticipated to return each season to perform similar work.

  • Program Income means gross in- come earned by the recipient that is di- rectly generated by a supported activ- ity or earned as a result of the award (see exclusions in § 215.24(e) and (h)). Program income includes, but is not limited to, income from fees for serv- ices performed, the use or rental of real or personal property acquired under federally-funded projects, the sale of commodities or items fabricated under an award, license fees and royalties on patents and copyrights, and interest on loans made with award funds. Interest earned on advances of Federal funds is not program income. Except as other- wise provided in Federal awarding agency regulations or the terms and conditions of the award, program in- come does not include the receipt of principal on loans, rebates, credits, dis- counts, etc., or interest earned on any of them.

  • Investment Income means dividends, capital gains, or interest in- come generated from:

  • Unearned income means any income which is not earned income and includes supplemental security income (SSI) and other funds available to a child residing in a foster care placement.

  • Unpaid income tax means income tax due but not paid by the date the income tax is required to be paid under applicable law.

  • Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income (including any other fees, other than fees for providing managerial assistance, such as commitment, origination, structuring, diligence and consulting fees or other fees that the Company receives from portfolio companies) accrued during the calendar quarter, minus the Company’s operating expenses for the quarter (including the base management fee, expenses payable under the administration agreement and any interest expense and dividends paid on any issued and outstanding preferred stock, but excluding the incentive fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount debt instruments with payment-in-kind interest and zero coupon securities), accrued income that the Company has not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation.

  • Wages is defined as the amount of money the employee would have otherwise received over a period of absence, excluding overtime.

  • Median household income (MHI) means the calculation computed by the U.S. Census Bureau - Income of Households - This includes the income of the householder and all other individuals 15 years old and over in the household, whether they are related to the householder or not. Because many households consist of only one-person, average household income is usually less than average family income. The median divides the income distribution into two equal parts with 50% of the cases falling below the median income and 50% above the median. For households and families, the median income is based on the distribution of the total number of households and families, including those with no income. The median income for individuals is based on individuals 15 years old and over with income. Median income for households, families, and individuals is computed on the basis of a standard distribution.

  • Annual income means all amounts, monetary or not, which:

  • Exempt income means all of the following:

  • Gross household income means gross income of a household as those terms are defined in rules of the authority.

  • Moderate income housing means housing affordable,

  • Gross income means the same as it does for income tax purposes, even if the income is not actually taxable, such as interest on tax-free bonds. Examples include: compensation for services, income from business, gains from property dealings, interest, rents, dividends, pensions, IRA distributions, social security, distributive share of partnership gross income, and alimony, but not child support.

  • Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.