Reference no: EM131894118
Question: In Week 2, we discuss and define gross income from business activities and the associated trade or business deductions available to offset gross income from business activities.To further drive those points home, your assignment this week is to interview a business owner (perhaps your boss or a friend or family member who has his or her own business) and provide the following information obtained from your interview.
1. Provide the name and contact info of the person interviewed, including his or her position and/or ownership in the business.
2. Provide the name of the business or sole proprietorship.
3. What is the main source of revenue (gross income) in this business? (Gross income might be from the sale of goods, performance of services, use of property, etc.)
4. What IRC Code § provides for the inclusion of this source of revenue into gross income?
5. What are the three most significant deductions claimed by this business? (The deductions might include payroll, materials, rent, etc.)
6. What IRC Code § provides for the deductibility of trade or business expenses?
7. Can you think of any deductions the business owner might be missing?
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What is the effective annual interest rate for loan
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What is philosophy-framework of counseling
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Determine the earnings per share
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Expected one year holding-period return on xyrong stock
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What is the main source of revenue in business
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Problems common to all psychological assessment
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Examine the theoretical framework and style presented
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Describing the competition between two or more businesses
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Describe how current research supports the picot
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