Firm News

July 06, 2020

Dennis Vogt Quoted on CreditDonkey

Shareholder, Dennis Vogt, CPA, is quoted in the recent article on CreditDonkey, “10 Ways To Generate Multiple Streams of Income”  The article discusses how having different income streams can lead you to financial freedom and the various ways to create them. Dennis was interviewed in the article for further information and examples of passive income.

What are good examples of passive income?

Passive income comes from two types of activities:
1. Any rental activity, unless the individual is a real estate professional.
2. A business activity in which the individual did not materially participate (a non-working investor).

This can include income from:
1. Shore home rentals, land rentals, equipment or other personal property rentals
2. Any & all businesses where the investor gets a portion of the profits but does not spend any substantial amount of time working in the business.


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