Box News Canada - The common definition of passive income is income that you earn without being actively involved. That typically means that you continue to make income with no or very little effort on your part to maintain that cash flow.
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For the purpose of this article, we are going to lump passive income and portfolio income into the passive category, and active income into the non-passive category – although the IRS categorizes and treats each type of income differently.
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You can see why the idea of passive income would be appealing. Typically when someone needs additional income, or you're a college student that needs to make money, they get the stereotypical suggestion to “get a part-time job.”
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