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. For ...
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 as ...
income.
It includes many
employee benefit
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any othe ...
s and
government-provided goods and services, such as toll-free roads,
food stamps
In the United States, the Supplemental Nutrition Assistance Program (SNAP), formerly known as the Food Stamp Program, is a federal program that provides food-purchasing assistance for low- and no-income people. It is a federal aid program, ad ...
,
public schooling, or
socialized medicine
Socialized medicine is a term used in the United States to describe and discuss systems of universal health care—medical and hospital care for all by means of government regulation of health care and subsidies derived from taxation. Because of ...
.
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
*
Barter
In trade, barter (derived from ''baretor'') is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money. Economists distingu ...
*
Local exchange trading system
A local exchange trading system (also local employment and trading system or local energy transfer system; abbreviated LETS) is a locally initiated, democratically organised, not-for-profit community enterprise that provides a community infor ...
*
Truck system
Truck wages are wages paid not in conventional money but instead in the form of payment in kind (i.e. commodities, including goods and/or services); credit with retailers; or a money substitute, such as scrip, chits, vouchers or tokens. Truck ...
References
Employee benefits
Public services
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