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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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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...
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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