Income in kind, or in-kind income, is
income
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. F ...
other than
money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: m ...
income.
It includes many
employee benefit
Employment is a relationship between two party (law), parties Regulation, regulating the provision of paid Labour (human activity), labour services. Usually based on a employment contract, contract, one party, the employer, which might be a cor ...
s and
government-provided goods and services, such as toll-free roads,
food stamps,
public schooling, or
socialized medicine.
Types of Income in Kind
# Free rent in exchange for caretaking duties.
## Note: If the caretaker receives a paycheck with an amount for rent deducted, the gross earnings are earned income, not in-kind income.
# Free room and board provided by a friend or relative.
# Free clothing or household goods provided by a community organization.
# Exchange of services, such as babysitting.
See also
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Barter
In trade, barter (derived from ''bareter'') is a system of exchange (economics), exchange in which participants in a financial transaction, transaction directly exchange good (economics), goods or service (economics), services for other goods ...
*
In kind
*
Local exchange trading system
*
Truck system
References
Employee benefits
Public services
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