Quote:
Originally Posted by Malloric
Exactly. Employees receive income for creating value for their companies. Do we honestly need two threads for you to understand this concept?
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A business has income. Income is defined as profit. It is profit coming in. The terms the irs uses is associated with corporations or businesses.
The terms are not associated with regular working hours.
An employee must work before a paycheck even exists. If an employee's paycheck was 'coming in' or income...then the employee would not need to work first. The check would already exist and be coming in.
If a business owner was vacationing in tahiti, he could still have income (value coming in) back at his business.
If an employee or laborer was vacationing in tahiti, he would have to stop vacationing, fly back home, get up in the morning, work all week, then he would receive a paycheck. That is not income. He had to go to work first, create the value, in turn, creating a paycheck.
An income check pre exists with value. The employees paycheck does not pre exist with value.
An income check and the employee's paycheck are opposites. One is coming in with value, the other is being created with value.
Even the word "wages" does not associate with regular working hours, it associates with 'overtime' hours.
Getting paid more than the hourly rate in overtime pay, may be considered income.
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