When a Trust Operates a Trade or Business, It Can

question 49

True/False

When a trust operates a trade or business, it can claim a deduction for wages paid to employees.

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Definitions:

Intellectual Property Rights

Legal rights granted to creators and inventors to protect their creations and inventions from unauthorized use by others.

Personal Property

Items of ownership that are movable and not permanently attached to or part of real estate; includes tangible items like furniture and intangible rights.

Real Property

Real property refers to land and anything permanently attached to it, such as buildings and fixtures.

Personal Property

Movable assets owned by an individual, as opposed to real property like land or buildings.