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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.
== Personality changes and its effects on income ==
''See also:'' [[Personality changes and its effect on income]] and [[Neoroplasticity and the ability of individuals to change their personality]] and [[Neuroticism]] and [[Extraversion]] and [[Agreeableness]] and [[Conscientiousness]] and [[Openness]]
Ben C. Fletcher D.Phil., Oxon writes:
{{Cquote|In their paper Boyce and colleagues went on to put a monetary value on changes in each of the [[Big Five personality traits]]. Their results showed that every standard unit increase in [[personality]] change was equivalent to an increase of between $92,000 and $314,000 in annual household income (US dollars). To put this another way, people needed an increase of between $91,000 and $309,00 in annual income to achieve the same increase in life satisfaction produced by a unit change in personality.
Change in the different personality traits were associated with different monetary values, with change in [[neuroticism]] being worth $314k, [[extraversion]] $225k, [[agreeableness]] $149k, [[conscientiousness]] was worth $91k and [[openness]] to experience $62k. If we bear in mind that the average annual household income was around $88,000/year it seems to pay really well to Flex!<ref>[https://www.psychologytoday.com/us/blog/do-something-different/201211/the-dollar-value-your-personality The Dollar Value of Your Personality]: Changing your personality may reap financial rewards, by Ben C. Fletcher D.Phil., Oxon</ref>}}
== Diversification and personal/business income ==
== Diversification and personal/business income ==