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Recourse Liabilities
Debts for which the borrower is personally liable, meaning the lender can pursue personal assets of the borrower if the loan is not repaid.
Cash Distribution
A payment made in cash to investors or stakeholders, often from the profits or reserves of a company or an investment fund.
Self-employment Income
Income earned from conducting business as an independent contractor, freelancer, or business owner, rather than as an employee.
Section 179 Expense
A tax deduction allowing businesses to deduct the full purchase price of qualifying equipment or software purchased or financed during the tax year.
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