Active Income
This referes to the income received for performing a service. Some examples of active income are: wages, tips, salaries, commissions, and income from businesses that hae material participation.
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Types of Income
- Active Income - the most common example of an active income comes in the form of paychecks from your employer
- Passive Income - this type of income is received even without active participation in the business
Active vs Passive Income
There are 2 types of income:
Active Income: You are trading time for money. In order to make money you must perform something. Every day you start from zero.
Passive Income: You do not have to be present to generate income. Things like real estate...
Know the difference between Passive and Active Income
To understand, the difference between passive and active income. Let's understand it by this example- Let's say I'm a teacher of a Government school. I will only get my salary as long as I will keep working. That means, no work, no money. That is active income- It applies to job/service and so o...
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