• work life

    There’s No Such Thing as Passive Income

    Well, technically there is… but NOT how it’s defined by online salespeople.  What is passive income? From BusinessDictonary.com: “Earnings from rent, limited partnership, or other sources of income (in which the earner does not take an active part), not including salary, wage, interest, or capital gain. Also called unearned income, passive income can be written off against passive losses.” There is a section of the U.S. tax code dedicated to passive income as it’s defined above. It’s this. In other words: Passive income IS NOT ebooks, info products, webinars, courses, downloads, workbooks, etc. that sell “in your sleep.” That isn’t passive income. See the official definition above, whereby the earner does…