This a copy and paste from the Internal Revenue Service
You can receive income in the form
of money, property, or services. This section discusses many kinds of income
that are taxable or nontaxable. It includes discussions on employee wages and
fringe benefits, and income from bartering, partnerships, S corporations, and
royalties. The information on this page should not be construed as
all-inclusive. Other steps may be appropriate for your specific type of
business.