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What is an important issue to remember in the recruitment stage?
Schedule A
This refers to a form used by U.S. taxpayers to itemize deductions on their federal income tax return.
Investment Expense
Costs incurred related to the purchase, management, and sale of investments, potentially deductible from taxable income for certain investors.
Material Participation
Active involvement in the operations of a business or trade, as defined by the IRS, to qualify for certain tax benefits.
Trade or Business
An activity conducted for the production of income from selling goods or performing services, differentiating from investment or leisure activities for tax purposes.
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