Yes, residual income is usually taxable. So long as you are making enough money from any source, you will most likely need to pay taxes on it. The only income you typically don't have to pay taxes on is income below a certain yearly... Continue
Having multiple streams of income means that a person is receiving income from several residual or passive income streams at once. Residual or passive income is income that a person earns without directly putting in work. This could be by... Continue
What is passive income and what is residual income? The difference between residual and passive income depends on the industry in which these terms are being discussed. In an online business environment, the two terms are used... Continue
If your business needs to borrow money, you’re not alone. In 2021, small businesses borrowed $44.8 billion through more than 61,000 loans. However, not all businesses look to traditional lending options like banks for financial support.... Continue
Residual income, also known as passive income, is one of the
most popular ways to make a living or supplement your income. In order to make
residual income, you need to find a service or product that you can offer to
customers in a way... Continue
A cash flow statement is a financial statement that shows how much money is going in and out of your small business. The statement is a part of a formal document that is included in your company's financial statements. It breaks out your... Continue
Only 21 million Bitcoins can ever be mined or unleashed into the market. Entering the world of cryptocurrencies, like Bitcoin, is going to be very different from traditional currencies you're used to. Not only are transactions handled... Continue
For users of cryptocurrencies, this idea of choosing the best currency is fundamental to helping them make money rather than lose money. And, as with any new technology, there are potential risks as well as rewards. It's important to do... Continue
One of my pet peeves is when small business owners don't offer as many payment options as possible to their customers. I get very annoyed when I eat at a restaurant and they "only accept cash." Or go to a grocery store that won't take my... Continue
