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| | Business Income Business income includes money you earn from a profession, a trade, a manufacture or undertaking of any kind, and an adventure or concern in the nature of trade or any other activity you carry on for profit or with a reasonable expectation of profit. For example, income from a service business is business income. However, business income does not include employment income, i.e., wages or salaries received from an employer. Generally, you have to report business income (other than farming or fishing income) using the accrual method of accounting. Farmers or fishers may use the cash method or the accrual method, but not a combination of both. Click the Area of Interest to You The Accrual And Cash Method Fiscal Period Bad Debts Recovered Reserves Vacation Trips And Awards Grants And Subsidies Surface Rentals Rental Income Barter Transactions Selling A Property Inventory How To Value Inventory Foreign Exchange Taxation Rules Legal Notice And Disclaimer Privacy Statement | | |  |  | Notice |
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