Out-of-pocket Expenses

Out-of-pocket Expenses

An expense that an individual incurs for either business or personal usage. These expenses are tax deductible.

Notes:

Having to purchase a new uniform for a job or a charitable function is an out-of-pocket expense.

See also: Convention Expenses, Expenses, Gambling Loss, Home Office Expense, Household Expenses, Mileage Allowance, Moving Expenses, Operating Expense, Write-Off