Examlex
William Stren first proposed the concept of an intelligence quotient (IQ) . In part, he developed this idea by building upon another preexisting concept. What was that?
Adjusted Basis
The value of an asset for tax purposes, calculated by modifying its original cost by factors such as depreciation or improvements.
Accumulated Depreciation
The total depreciation expense charged against an asset over its useful life.
Trade or Business Expenses
Trade or business expenses are the costs of carrying on a trade or business, and these expenses are usually deductible if the business operates to make a profit.
For AGI Deduction
For AGI deductions, also known as above-the-line deductions, reduce gross income to arrive at adjusted gross income and can include expenses such as certain business expenses, alimony payments, and contributions to retirement accounts.
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