Define Change Agent and Describe Where Change Is Most Likely

question 24

Essay

Define change agent and describe where change is most likely to come from. Compare who is most likely to be an agent of change and who is most likely to resist change. Explain your answer.

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Definitions:

Income

Funds acquired regularly from labor or investment returns.

At-risk Amount

The maximum value taxpayers are at risk of losing in an investment, affecting the deductible loss limit in tax declarations.

Ordinary Loss

A loss derived from normal business operations or transactions that is not classified as a capital loss.

Passive Activity

Passive activity involves business or trade activities in which the person is not actively involved, affecting how losses and income are treated for tax purposes.