Legal Definitions - current income

Current income refers to the money or payment that a person receives periodically from their employment, business, investments, royalties, gifts, and other sources. It is the income that is due within the present accounting period.

Examples of current income include:

• Wages or salary earned from a job
• Income earned from a business
• Interest earned from savings accounts or investments
• Rental income from a property
• Dividends received from stocks

These examples illustrate how current income is the money that a person is currently earning or receiving from various sources. It is important to keep track of current income for budgeting and tax purposes.