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3 Cards in this Set
- Front
- Back
- 3rd side (hint)
Gross Income
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all world wide income from whatever source derived, unless specifically excluded fr om taxation by laws.
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Examples: any form , money, property or services
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Earned Income
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is received for services performed
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Examples: wages, commissions, tips, farming, and other business income.
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Unearned Income
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is taxable income that does not meet the definition of earned income
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Examples: money rec'd for the investment of money or other property such as:
interest & dividends rents royalties pensions alimony unemployment compensation other income that is not performing services |