As per the tax code applicable in the United States of America, there are certain types of income that are not taxable at all. If you be a little creative and take some actions in advance, you can turn certain part of the compensation you receive from your employer into a tax free income. There are plenty of ways to make your compensation nontaxable. So, get ready if you are due for a raise. Following is a brief rundown on five wonderful alternatives to taxable earned income.