Earned Income

Author:Jeffrey Lehman, Shirelle Phelps
 
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Page 55

Sources of money derived from the labor, professional service, or entrepreneurship of an individual taxpayer as opposed to funds generated by investments, dividends, and interest.

Wages, salaries, and fees are types of earned income that, if below a statutorily determined amount, entitle a taxpayer to a reduction of INCOME TAX liability.

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