Examlex
Match each of the transformations with its process.
-1p ? 1n
Net Income
The profit of a company after all expenses and taxes have been subtracted from total revenue.
Rental Income
Income received from allowing others the use of a property in exchange for payment, typically reported on tax returns and subject to specific rules and taxes.
Repair Expense
Costs incurred to fix or maintain property or equipment, generally deductible in the year they are incurred for tax purposes.
IRC Section 179
Allows taxpayers to deduct the cost of certain property as an expense when the property is placed in service (rephrased definition for §179 Expense).
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