Other Income

Other Income refers to money earned by an individual or entity that does not come from their primary business activities or regular job. This can include sources like rental income from property, interest earned from bank accounts, dividends from investments, or profits from selling assets. It’s important for financial reporting and tax purposes, as it provides a fuller picture of one's financial situation beyond the main earnings. Understanding Other Income helps individuals and businesses better manage their finances and make informed decisions about budgeting and investment.