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As used in the U.S. Tax Code, refers to federally-connected activities and investments, income is the value of which is measured by the monetary receipts produced therefrom. The term "income," as used in 16th Amendment to the U.S. Constitution and internal revenue laws, does not refer to private pay or profit derived from private-sector work or investments. In general, terms such as "wages," "compensation," "interest," "profit," "dividends," and other specially defined terms in the tax code, refer strictly to money, gains, and other accessions to wealth generated from the use of federal privilege, prerogative, or property.
As used in the U.S. Tax Code, refers to federally-connected activities and investments, income is the value of which is measured by the monetary receipts produced therefrom. The term "income," as used in 16th Amendment to the U.S. Constitution and internal revenue laws, does not refer to private pay or profit derived from private-sector work or investments. In general, terms such as "wages," "compensation," "interest," "profit," "dividends," and other specially defined terms in the tax code, refer strictly to money, gains, and other accessions to wealth generated from the use of federal privilege, prerogative, or property.
== Diversification and personal/business income ==
''See also:'' [[Multiple streams of income]]
[[Multiple streams of income]] is an [[economic]] concept that is applied to either personal or [[business]] use whereby the person or business entity seeks multiple sources for [[income]] that have some level of separateness so that in the event that one stream "dries up", the other sources will continue and prevent a catastrophic situation from occurring.
==See also==
==See also==
*[[Basic income]]
*[[Basic income]]
[[Category:Accounting]]
[[Category:Accounting]]
[[Category:Economics]]
[[Category:Economics]]
[[Category:Taxation]]
[[Category:Taxation]]