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Bookmark or Share- What Is Earned Income? - The BalanceEarned income is any taxable money received as compensation from your employer or sales generated from a business you own. Examples of earned income include hourly wages, salaries, tips, and business sales.
- Earned income and Earned Income Tax Credit (EITC) tablesTo claim the Earned Income Tax Credit (EITC), you must have what qualifies as earned income and meet certain adjusted gross income (AGI) and credit limits for the current, previous and upcoming tax years. Use the EITC tables to look up maximum credit amounts by tax year.
- Earned Income - Overview, How To Calculate, ConsiderationsEarned income is income that stems from one’s own business or is given by an employer. Passive income is not considered earned income. Individuals with low salaries may be eligible for tax credits, which ultimately reduces the amount of taxes they must pay; otherwise, they would receive some refund from the government.
- Earned Income Tax Credit (EITC): Definition and How to QualifyTo qualify for the earned income tax credit, the individual must have earned income for the year that is lower than the EITC income threshold for that year.
- Gross Income vs. Earned Income: What's the Difference? - InvestopediaGross income includes all the income that constitutes earned income—namely, wages or salary, commissions, and bonuses, as well as business income net of expenses for those who are self-employed.
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