Albert Einstein Once Referred to Compounding as

question 80

Multiple Choice

Albert Einstein once referred to compounding as

• A)"an obsession among economists that defies explanation."
• B)"the greatest mathematical discovery of all time."
• C)his own discovery.
• D)John Maynard Keynes's greatest contribution.

---

Definitions:

Standard Mileage Rate

A set rate per mile set by the IRS that taxpayers can use to calculate deductions for the business use of a vehicle.

Business Deduction

Expenses incurred in the operation of a business that can be subtracted from its income to reduce the taxable income.

Vehicle Expenses

Costs associated with the operation, maintenance, and use of a vehicle for business purposes, including fuel, repairs, and insurance.

Luxury Automobile Limitations

Tax rules that cap the amount of depreciation or lease inclusion that can be deducted for high-cost vehicles.