Tess Has Started a New Part-Time Business

question 38

True/False

Tess has started a new part-time business.She is concerned that the IRS will call it a hobby if her return is audited.This first year of business showed a small profit,and she expects it to continue to show modest profits.She would like to take advantage of the three out of five year profit rule to shift the burden of proof to the IRS.Because of the three-year statute of limitations,this will not be possible for the first year of business.

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Definitions:

Coherence

The logical, consistent, and orderly connection of ideas in a text that facilitates understanding and meaning for the reader.

Passive Verb

A grammatical construction where the subject of the sentence is the recipient of the action rather than the doer.

Second Person

A narrative perspective that addresses the reader or audience directly, using pronouns like "you" and "your."

Third Person

In writing, the technique of narrating from the perspective where the protagonist or subject is referred to by name or by pronouns not including "I" or "you."