Artemis Is a University Professor Carrying on an Internet-Based Auction

question 24

Essay

Artemis is a university professor carrying on an Internet-based auction business that is losing money.He is concerned about liability and wants to transfer the business to a corporation he will incorporate.He will be the sole shareholder,director,and officer.He thinks that his business will continue to lose money for the next couple of years before it turns profitable.He is living on his professor's income and plans to continue to deduct the business losses against that income.Can he do this?

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Definitions:

Graduate School

An advanced level of higher education where one pursues specialized degrees beyond the bachelor’s level, such as masters or doctorate degrees.

Cortisol Production

The process by which the adrenal glands secrete cortisol, a steroid hormone involved in the body's stress response.

Cognitive Functioning

The mental processes that include the ability to learn, reason, remember information, solve problems, make decisions, and concentrate.

Choke Under Pressure

The phenomenon where an individual fails to perform to their usual standards because of nervousness or anxiety in high-pressure situations.