Many businesses receive advance payment for products and services. In such a case, the monies received are not earned income because the business will provide the products or services at a later date.

Unearned income is highly useful for anyone looking to accumulate wealth, but it does come with tax consequences. Here’s the deal. What Is Unearned Income? What’s the Difference Between Unearned ...

Earned income is the money you earn through work or services, while unearned income is the money you receive without actively working for it. Both are crucial for financial planning and ...

What is the difference between deferred revenue and unearned revenue? Well, the short answer is that both terms mean the same thing -- that a business has been paid for goods or services it hasn't ...

Taxable income is the portion of your income that the IRS considers subject to federal income tax. It includes both earned income, such as wages and self-employment earnings, and unearned income, such ...

When you hear about the term "deferred revenue" and think about a typical list of financial statements, you might assume this goes on the income statement like other revenue received. However, ...

Do you want to live in a society where no one is hungry and everyone has a warm, safe home? Is it a priority for you that we collectively help those who are going into deep poverty because of COVID-19 ...