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The business purpose, step-transaction, and substance-over-form doctrines may limit the conversion strategy.
Cost of Living
The sum of money required to maintain a specific standard of living, covering essential costs like shelter, nourishment, taxes, and medical care.
Economic Conditions
The state of the economy at a given time, including factors like growth rates, unemployment, and inflation.
Job Loss
The act of becoming unemployed through layoffs or termination, affecting an individual's economic standing and often their identity.
Minimum Wage
The lowest legal hourly pay that employers can offer their workers, set by law to ensure a basic standard of living for employees.
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