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5 Passive Income Ideas To Permanently Take You Out of Poverty

Passive Income Tip: Proponents of earning passive income tend to be boosters of a work-from-home and be-your-own-boss professional lifestyle. Passive income has been a relatively loosely used term in recent years. Colloquially, it's been used to define money being earned regularly with little or no effort on the part of the person receiving it. Passive income, when used as a technical term, is defined by the IRS as either “net rental income” or “income from a business in which the taxpayer does not materially participate,” and in some cases can include self-charged interest. Portfolio income is considered passive income by some analysts, so dividends and interest would be considered passive. However, the IRS does not always agree that portfolio income is passive , so it's wise to check with a tax professional on that subject. (investopedia.com)

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