Examlex
The sense of smell can be considered a
Taxpayer's Business
Refers to any enterprise or activity undertaken by an individual with the intention of earning profit.
Depreciation
The method of allocating the cost of a tangible asset over its useful life, representing how much of an asset's value has been used up over time.
Tangible Asset
Physical assets such as real estate, equipment, and inventory, distinguished from intangible assets like patents and copyrights.
Trade or Business
Any activity carried on for the production of income from selling goods or performing services.
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