Examlex
If a contract concerns an illegal subject matter and a court will not step in to such a contract to enforce its promises,it is an example of _____ as a defense to performance.
Borrowed Funds
Money that has been loaned to a borrower, which must typically be repaid with interest.
Phase-Out
A gradual reduction or elimination of a tax benefit or deduction as a taxpayer's income reaches or exceeds certain thresholds.
Itemized Deductions
Eligible expenses that individuals can claim on their tax returns to reduce their taxable income, such as mortgage interest, medical expenses, and charitable donations.
High-Income Individuals
Persons with income levels significantly above the average, often subject to higher tax rates and financial strategies.
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