Share
Explore BrainMass

Income from an "Active Business" versus Income from a "Specified Investment Business" versus Income from a "Personal Services Business"

I am looking for an explanation or definition and maybe a couple examples of:

Income from an "Active Business"
Income from a "Specified Investment Business"
Income from a "Personal Services Business"

I am having a hard time understanding what the differences are between the three.

Solution Preview

An active business derives income from any service not otherwise excluded, also a specified investment business with 5 or more full time employees.

A specified investment business is a business which principally ...

Solution Summary

Clear brief distinction given.

$2.19