So, Is Passive Income Legal? Yes, but still not legal advice, just my observations based on sources of passive income.
Every worker’s goal is to retire someday, stop working but continue to collect money through retirement.
Retirement planning is about planning for a lifetime of passive income.
Is retirement income illegal because it’s passive?
No.
Now I’m going to get into whether sources of passive income are legal; that is for another discussion; however, just because an income is considered passive does not generally make it illegal.
The IRS recognizes passive income and treats it as income with its own set of tax rules.
Not a tax professional or a lawyer, but feel free to read some IRS rules for yourself( https://www.irs.gov/publications/p925 ).
Now, if you still have questions about passive income, in general, being legal or more detailed questions about sources of passive income being legal, please get in touch with your tax or legal professional.
In the meantime, I will continue to work on my Passive Income Generators (PIGs) and hopefully retire ASAP.
 Myself with an interesting Bull Sculpture. Notice: No Lambo’s. :/ | Hi I’m Tom, A Blogger And A PIG Farmer. PIG Farmer as in I grow Passive Income Generators(PIG’s). I’ve been playing with stocks, mutual funds, and options for decades, as well as always working on my side hustle stacks. Unlike what you read online, I’ve yet to find a way to get rich quickly. Get Rich Quick isn’t happening for me. My journey has been long and continues. I hope to have so many PIGs I can stop working at my current job and volunteer as a medical worker overseas. Still waiting, but getting there. I still am a family man, and while on this Journey of Growing PIGs. I wanted to share my adventures(ups and downs), hoping you will contribute with your feedback and comments. Fun Fact: In my spare time, I am a Band-Dad! |