A single taxpayer provided the following information for 2014: 
What is taxable income?
Definitions:
Limited Partnership
A business structure where at least one partner is liable only to the extent of their investment in the company, while at least one other partner has unlimited liability.
Management Responsibilities
The duties and tasks associated with directing and controlling an organization or one of its units.
Invest
The act of allocating resources, usually money, with the expectation of generating an income or profit.
Franchise Agreements
Franchise agreements are legal contracts between a franchisor and franchisee, outlining the terms for the franchisee to operate a franchised business.
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