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We may not be able to generalize the findings of Daniel Levinson,the researcher who studied the midlife crisis in the 1970s,to the population at large because his initial observations were based on
Incidental Expenses
Minor or secondary expenses that occur during the process of conducting business or performing a service.
Personal Property
Property that includes movable items such as furniture, cars, and investments, as opposed to real estate.
200% Declining-Balance Rate
A method of accelerated depreciation allowing for a double rate of depreciation on assets, compared to the straight-line method.
MACRS
The Modified Accelerated Cost Recovery System, a method of depreciation for tax purposes that allows faster write-offs on property.
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