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Ordinary Income
This refers to any income earned through work, interest, dividends, or rental income, subject to standard tax rates.
Dividend Income
Income received from owning shares in a company, paid out from the company's profits.
Charitable Contribution
Financial or material donations given to a charitable organization, often eligible for tax deductions.
C Corporation
A type of business entity that is taxed separately from its owners, and can have an unlimited number of shareholders.
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