Personal services income (PSI) is income that is derived from personal services that an individual provides. It is income that is earned from the individual's personal skills, knowledge, and expertise, rather than from a business or investment. Personal services income is subject to special rules in some countries, including Australia and Canada. In these countries, personal services income is taxed differently from other forms of income, such as business income or investment income.
What is Finanshels?Setting up a good small-business bookkeeping system can be an involved process, especially if you’re not an experienced bookkeeper. Rather than spending enormous time and effort on getting your books up and running, consider turning to Finanshels for help. We’ll set up your bookkeeping system to ensure that your business is starting off right – and we’ll save you a huge amount of stress.Want someone to help you organize your bookkeeping system? Try Finanshels