Examlex
A(n)________ is a predefined formula such as SUM or MEDIAN.
Self-employment Income
Income derived from running a business as a sole proprietor, independent contractor, or freelancer, as opposed to earning a salary or wages from an employer.
Section 179 Expense
A section of the IRS tax code allowing businesses to deduct the full purchase price of qualifying equipment and/or software within a tax year.
Separately Stated
Items on a tax return or financial statement that are listed individually to ensure proper treatment under tax laws or accounting rules.
Ordinary Income
Income earned from providing services or the sale of goods, as opposed to capital gains or investment income, taxed at standard rates.
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