Personal-Service Activity

Any business enterprise with the primary purpose of providing personal services. Personal-service activities encompass a wide range of professions, including law, medicine, engineering, design, finance, accounting and even performing arts. As the name implies, a personal-service activity focuses on directly providing a personalized service, such as legal advice or medical treatment, to an individual or group for compensation. Personal-service activities do not require the use of capital in order to generate material income.

The material participation test for personal-service activities determines whether or not a taxpayer is a material participant in a business. Taxpayers who meet test guidelines will most likely be able to deduct business losses.


Investment dictionary. . 2012.

Look at other dictionaries:

  • Personal service corporation — A corporation is a personal service corporation if it meets all of the following requirements: [IRS Publication 542 (02/2006)] 1. Its principal activity during the “testing period” is performing personal services (defined later). Generally, the… …   Wikipedia

  • Personal jurisdiction (United States) — Personal jurisdiction in United States law refers to a court s power over a particular defendant ( in personam jurisdiction) or an item of property ( in rem jurisdiction). If a court does not have personal jurisdiction over a defendant or… …   Wikipedia

  • Service-oriented architecture — (SOA) is a method for systems development and integration where functionality is grouped around business processes and packaged as interoperable services . SOA also describes IT infrastructure which allows different applications to exchange data… …   Wikipedia

  • Personal jurisdiction in internet cases — Personal Jurisdiction is a requirement to bring suit in American courts. In cases involving the internet, the court must determine if the site being sued has sufficient contacts with the jurisdiction in which the plaintiff brings suit to allow… …   Wikipedia

  • Service (economics) — A service is the non material equivalent of a good. A service provision is an economic activity that does not result in ownership, and this is what differentiates it from providing physical goods. It is claimed to be a process that creates… …   Wikipedia

  • service — ▪ I. service ser‧vice 1 [ˈsɜːvs ǁ ˈsɜːr ] noun 1. [countable usually plural] COMMERCE business that involves selling help and advice, or delivering goods etc for customers, rather than manufacturing goods: • He charged a £600,000 fee for… …   Financial and business terms

  • Personal Information Protection and Electronic Documents Act — The Personal Information Protection and Electronic Documents Act (abbreviated PIPEDA or PIPED Act) is a Canadian law relating to data privacy. It governs how private sector organizations collect, use and disclose personal information in the… …   Wikipedia

  • Social networking service — This article is about the type of service. For the concept of relationships between people, see Social network. For a list of services, see List of social networking websites. A social networking service is an online service, platform, or site… …   Wikipedia

  • United States Foreign Service — Seal of the US Department of State The United States Foreign Service is a component of the United States federal government under the aegis of the United States Department of State. It consists of approximately 11,500 professionals[1] carrying… …   Wikipedia

  • civil service — 1. those branches of public service concerned with all governmental administrative functions outside the armed services. 2. the body of persons employed in these branches. 3. a system or method of appointing government employees on the basis of… …   Universalium

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.