Differentiate among employment arrangements and sources of income.

Differentiation should include

• types of employment
  • full-time
  • part-time
  • independent contract
  • gig
  • piece work
  • contingent work
  • day labor work
  • freelance work
  • 1099 work
  • informal vs. formal
  • contract vs. permanent
  • the nature of the work
    • scheduling and flexibility
    • level of supervision
    • work from home options
  • applicable tax classification forms
• the advantages and disadvantages of each type of employment
• sources of income
  • salaries
  • hourly wages
  • overtime pay
  • tips
  • commissions
  • bonuses
  • piece rate pay
  • earned vs. unearned income.