Passive Income Definition Tax law distinguishes between active income and passive income. Returns generated from investments or business activities that require the continued effort of the taxpayer are considered active income. Consider returns coming from investments or business activities that require little or no participation from the taxpayer passive income. Another type of income is
In accounting, amortization refers to the periodic expensing of the value of an intangible asset. Similar to depreciation of tangible assets, intangible assets are typically expensed over the course of the asset’s useful life. It represents reduction in value of the intangible asset due to usage or obsolescence. Basically, intangible assets decrease in value over time, and amortization
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