Examlex
Use the Three Gorges Dam on China's Yangtze River to illustrate the benefits and costs associated with building dams.
Decedent's Basis
The value assigned to a deceased person's property for tax purposes, determining the basis for heirs or beneficiaries for capital gains tax calculations when they sell the property.
Ordinary Expense
Regular and necessary costs incurred in running a business that are tax-deductible.
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.
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