How Does Water Filters Impact Social Political And Economic Systems? How Much Does New Hampshire Make A Year? How Does Water Filters Impact Social Political And Economically?
Earned Income is wages, net earnings from selfâemployment, certain royalties, honoraria, and sheltered workshop payments. Unearned Income is all income that is not earned, such as Social Security benefits, pensions, State disability payments, unemployment benefits, interest income, and cash from friends and relatives. InâKind Income is food or shelter that you get for free or less than its fair market value.
The Internal Revenue Service draws a distinction between two basic types of income for tax purposes: earned income and unearned income. Earned income is money you make through employment or running a business, such as wages, salaries, tips and business profits. Unearned income describes passive sources of income that you gain without having to work.