Personal Expense


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Personal Expense

Expenses of an individual other than those for business or investment purposes. Personal expenses are not deductible unless specifically allowed under the tax law. Two examples of deductible personal expenses are medical expenses and personal property tax paid on personal-use property.
References in periodicals archive ?
Former executives being probed for irregular personal expense claims
You don't have a good perspective on how your business is doing if personal expenses are mingled in with business expenses," says Mike Eggleston, CPA and owner of Small Business Accounting & Tax in Spanish Fork.
Payments such as those for tuition are always considered personal expenses and are nondeductible.
State prosecutors have formally charged the former mayor of Cabadbaran City, Agusan del Norte, before the Sandiganbayan over reimbursements he allegedly made for his personal expenses.
The Securities and Exchange Commission today charged a Los-Angeles based investment advisory firm and its owner with fraudulently overbilling clients and stealing assets from their trusts to pay such personal expenses as his home mortgage, overseas trips, and leases on two Mercedes-Benz vehicles.
In this case there is no breach of our policy and the personal expenses are paid for by Antonio.
SEATTLE (AP) -- The Washington State Auditor's Office has referred one of its reports to the King County Prosecutor's Office, after finding that a former director at Seattle Colleges racked up more than $50,000 in personal expenses on a work credit card.
Paul Dunham, 59, was sentenced for one count of conspiracy to commit wire fraud and one of money laundering over a scheme in which he and his wife Sandra used fraudulent expenses claims to pay for a time share in Barbados, luxury bedding for their home, a dog sofa and other personal expenses, the US Justice Department said.
Cyprus Airways (CY) pilots want the findings of a probe into allegations that the chairman had charged personal expenses to the company published, as they called for foreign experts to take over its management.
The state has alleged in a suit filed in Suffolk Superior Court that since 2009 the five individuals ran organizations claiming to provide financial and legal services, including foreclosure-related services to distressed homeowners, but instead spending clients' fees on personal expenses.
He would pay for his personal expenses, but would not pay for business expenses like the rent, the storage, the phone bills, employees, [and] taxes," Lion Wines' general manager, Alex Herringshaw, said in an affidavit, the New York Daily News reported
to charge more than $300,000 in personal expenses to a company credit card over a three-year period.

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