Elisha is a photographer and charges a set fee to photograph weddings. this is an example of income.
a. capital gains
b. earned
c. hourly
d. passive

Elisha is a photographer and charges a set fee to photograph weddings. This is an example of earned income.

Earned income refers to the exact money you get from working for a company or someone. In other words, a set fee that is charged by Elisha to photograph weddings is an example of earned income.

Simply put, it is the money you received by taking part in a business or trade.

Earned income includes the followings:

However, earned incomes can as well be benefits such as long term disability benefits, union strike benefits. There are also classes of deferred compensation plans that are classified as earned income.

There is a difference between earned and unearned income. Although both are taxed unearned income tax rates vary.

Also, there are two most common types of earned income and these include

However, there are also some sets of income that are not regarded as earned income, some benefits such as worker's compensation, social security, stocks dividend, bond interest, pension income, alimony are all income that falls under the category of unearned income.

LEARN MORE:

KEYWORDS:

any school based questions?

answeras live actors preforming in the same room as a live audience;