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Trade Or Business
Engagements or activities conducted for the purpose of income or profit, characterized by continuity and regularity.
Mortgage Interest
The interest charged on a loan used to purchase a property, often tax-deductible for the borrower.
Depreciation
An accounting method that allocates the cost of a tangible asset over its useful life.
Cost Recovery
The method by which businesses deduct or amortize the cost of property over a period, for tax purposes, to recover the expense of capital investments.
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