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What tool did Galileo use to prove that the Moon was not perfect?
Business Loss
A financial state where business expenses exceed its revenue, which can affect tax liabilities.
Deduct
To subtract or take away from the gross amount; in taxation, to lower taxable income by subtracting allowable deductions.
At-risk Amount
The investment in money or other property at risk in an activity, determining the deductible loss limit.
Passive Loss Rules
Tax provisions limiting the amount of loss investors can claim from passive activities, such as rental properties, to offset other income.
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