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

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    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.

    © BrainMass Inc. brainmass.com June 3, 2020, 8:01 pm ad1c9bdddf
    https://brainmass.com/business/business-management/terms-commonly-tax-practice-121144

    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. The terms commonly used in tax practices are determined.

    $2.19

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