Source of Income (Meaning: All You Need To Know)

Looking for Source of Income?

What does source of income mean?

What are the essential elements you should know!

Keep reading as I have gathered exactly the information that you need!

Let me explain to you what is source of income so you know all about it!

Are you ready?

Let’s get started!

What Is Source of Income 

Source of income can have different meaning depending on the context of the question.

“Source of income” in general refers to where your income is coming from.

For example, is your income coming from dividends, a business, rental properties, royalties, your employment, and so on.

In other words, a source of income is a source or origin providing you with an income either regularly, occasionally, or on a one-time basis.

Source Meaning

“Source” of income means where your money is coming from.

You are earning your income from your job, getting it from a retirement plan, an inheritance, a business, your investments, etc.

Wherever you are generating income, that’s considered to be the “source”.

Income Meaning

Income is defined as money that you receive on a regular basis.

For instance, when you work on a job, you are paid a salary or wages (that’s your employment income).

If you are an investor, you may get money from your investments (that’s your investment income).

Source of Income For Investors

If you are an investor or looking to grow your wealth, source of income refers to the ways you are generating your income.

You may have active or passive sources of income allowing you to build your wealth.

For example, an active source of income is if you own your own business and you are actively engaged in that business to generate an income for yourself.

A passive source of income is when you invest your money in instruments generating an income for you like buying dividend stocks (it’s passive as you don’t work to generate that cash).

Source of Income For Taxpayers

If you are a taxpayer looking to file your income taxes, your source of income can refer to the geographical location or jurisdiction where you are earning your income.

For example, if you are earning your income from sources located in New York, your source of income is from New York.

On the other hand, if you earned your income from another country, your income will be from a foreign source.

Source of Income Example

Let’s look at a few examples of different ways you can make money or have a source of income.

On this website, I specialize in helping my audience understand and build sources of income in different ways (and there are plenty).

I can’t give you an exhaustive list but here is a list of what you can consider source of income:

  • Making money online
  • Making money as an affiliate marketer
  • Making money by completing surveys
  • Making money on GPT sites (“Get Paid To” sites)
  • Making money as a blogger
  • Making money as a content marketer
  • Making money selling software products
  • Making money selling ebooks
  • Making money dropshipping
  • Making money as a freelancer
  • Making money as a paid game tester
  • Making money selling services on Fiverr
  • Making money on social media
  • Making money making videos on YouTube
  • Making money on Instagram
  • Making money on Amazon
  • Making money on Etsy
  • Making money podcasting 
  • Making money selling online courses
  • Making money selling your photos
  • Making money flipping websites
  • Making money on eBay
  • Making money starting your own business
  • Making money from your day job 

I guess you get the point!

Anything that 

Source of Income Meaning Takeaways 

So, there you have it folks!

What does source of income mean?

Source of income is defined as the origin of where your income is coming from.

For example, investment income, employment income, subscription income, rental income, and so on.

The origin of your income can be the asset or method that you are earning your income or the place, location, or territory where your income is coming from.

For example, income from New York, California, or foreign sources.

Now that you know what is income source and what it consists of, good luck in your research!

If you are looking to build your personal wealth and have different sources of income, be sure to subscribe to my blog so you get exclusive content sent your way.

Good luck!

Why You Should Join My Passive Income Blog

It’s been great having you on my blog.

Just so you know a little about me!

On this blog, I focus on generating passive income in order to build wealth over time.

Over the years, I have built a portfolio of passive income sources generating me a constant, continuous, and reliable source of cash flow every month (it is awesome!!).

I made a lot of mistakes on the way and learned a lot.

Now, my mission is to teach you my secrets, guide you, and show you how to make passive income for yourself.

I don’t offer a get-rich-fast scheme or I will not make you a millionaire overnight.

However, what I can do is provide you with real and actionable strategies that you (anyone) can implement on any scale (large or small) to make money passively.

If you are willing to dedicate yourself, work hard, and make sacrifices, I can help you change your life around. 

I only focus on tried and true methods for making money and they take time, patience, perseverance, and a lot of hard work.

Hey You!
Are You Looking For Financial Freedom?

If you are looking for financial freedom, make more money, or learn how to earn cash flow from awesome passive income sources, as your first step, sign up for my Passive Income Newsletter. 

When you sign up, I will share with you my exclusive content on passive income, tell you about the tools I use, strategies that I’ve used, what successful entrepreneurs do to make piles of money, and most importantly my actionable tips to get you started!

Are you ready to live life on your own terms?

Can you make the commitment today?

If you are ready and willing to commit yourself, come with me and let’s go on a wonderful journey together…

With that being said, let’s head right back to our main topic!

Source of Income Definition 

  • The sources where you obtain income is called a source of income
  • The source of income can be defined as the type of income you are generating such as employment income, business income, investment income, and so on
  • Source of income can also be the place, country, or jurisdiction where your income is coming from such as domestic income or foreign income 
Business income
Capital gain income 
Consumer income
Gambling income
Gross annual income
Gross income
Income redistribution
Income shortfall
Income statement
Income stream
Income support
Net income
Personal income 
Primary source of income
Second source income
Taxable income
Unearned income
What is active income
What is business income
What is dividend income
What is income 
What is ordinary income 
What is passive income 
What is royalty income
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How to make money on Etsy
How to make money on Instagram
How to make money on TikTok
How to make money on YouTube
How to make money online 
How to make money selling online courses
How to make money with affiliate marketing
How to make money with digital downloads
How to make money with ebooks
How to make money with podcasts 
How to make money with royalties
How to make money without a job
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