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LSDefine

Simple English definitions for legal terms

passive income

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A quick definition of passive income:

Passive income is money that you earn without having to actively work for it. This can come from things like investments, rental properties, or businesses that you own but don't directly participate in. It's different from earned income, which is money you make from working a job or providing a service. Passive income can be a great way to build wealth and create financial stability.

A more thorough explanation:

Passive income is money earned from a business, rental property, or other income-producing activity that the earner does not directly participate in or have immediate control over. It is different from active income, which is earned from one's own labor or active participation in a trade or business.

Examples of passive income include:

  • Rental income from a property that is managed by a property management company
  • Dividend income from stocks or mutual funds
  • Interest income from savings accounts or bonds
  • Income from a business in which the earner is not actively involved, such as a silent partnership

These examples illustrate how passive income is earned without the earner having to actively work for it. Instead, the income is generated through investments or other income-producing activities that require little to no effort on the earner's part.

passive euthanasia | passive investment income

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20:07
I am semi proficient in spanish.
20:08
nice same. This sounds bad but I do not like how spanish sounds.
20:09
or english for that matter
20:09
There is nothing wrong with that. I like all the languages. It is tones that annoy me.
20:10
and fabrics
20:14
@GalenMeric: Sorry, tones is what I meant. Are you a wool fabric fan?
20:40
I think my only wool piece is my suits, and I like those quite a bit.
21:11
Wool is the best fabric
21:12
I only buy wool, denim, leather, and loop wheel cotton
21:31
@NemoPropheta: Im on that polyester, nylon, spandex, rayon, and fleece grind fam
21:32
jk but fr: I was watching how to fold dress shirts so they do not wrinkle, and the dude did his folding on a wool blanket so that the wool fibers grabbed the cotton shirt (like velcro), that is smart asf
21:32
That is smart
21:33
I want a weatherwool blanket
21:33
But I hang my shirts but Ive heard arguments against it
21:34
Generally I fold knitwear and hang everything else
21:35
Cant wait to get that big law money and spend it all on clothes 🙏
21:37
@NemoPropheta: his point was to protect the collar at all costs, therefore fold most shirts. I HATE when collars be acting out, so I will adpot his method: https://www.youtube.com/shorts/QaVKudd36zc?feature=share
21:38
oh fr wearin a suit is so fun t. someone who wears a suit seldomly
21:40
Yeah that makes sense, I do hate when my collar stick out at the sides, I cant figure out how to iron them so they maintain their shape
21:48
collar stays may be the answer. also, shirt stays are goated
21:50
@NemoPropheta: those look so nice, but i feel like one spec of dirt or one crease will ruin ur week, even if the money means nothing?
23:18
Idk I like worm i
23:19
bruh
23:19
I like worn in leather, and dirt is easy enough to clean off*
OrangeThing
23:27
Am I still muted on here
OrangeThing
23:27
Oh I guess not
OrangeThing
23:27
Hello all
f$ll to MarqU baby
Ur-
0:34
@OrangeThing: Welcome back Renard99
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