Actual Expenses

Actual Expenses (Regular Method)

The method of deducting automobile expenses based on actual costs incurred.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
Meanwhile, the total revenues during the period from the beginning of July 2018 to the end of May 2019 amounted to about EGP 764.6bn, compared to actual expenses of EGP 706.4bn.
excluding the Gasoline and Miscellaneous Expenses that are actual expenses incurred by the Office of the Secretary proper and not as her personal use.
'Based on the same document, her total earnings for 2018 was P3.3 million-and not P3.95 million as initially reported-excluding the Gasoline and Miscellaneous Expenses that are actual expenses incurred by the Office of the Secretary proper and not as her personal use.'
Once the square footage is known, taxpayers have two methods to choose from as the multiplier: the actual expenses or the simplified method.
The standard mileage rate is one of two methods for owners to account for how much they spend when they use a car for business; the second is based on actual expenses. Under that method an owner must calculate the percentage of miles the car is driven for business, and apply that percentage to expenses like lease payments, fuel, maintenance, repairs, insurance and depreciation.
Furthermore, the DBM clarified that government-owned and -controlled corporations are given flexibility in the use of the MOOE budget, provided that 'actual expenses incurred on each object of expenditure must be equal to or less than the board's approval level; and actual total MOOE does not exceed the DBM-approved level.'
Mr Afridi recalled that the transport department officials had assured the transporters in October to conduct a survey through the motor vehicles teams to ascertain the actual expenses and then revise the fare list.
Banks are now reviewing customers' actual expenses, while they used to use the household expenditure measure method earlier to assess the eligibility of consumers.
The original cost estimate was 750 million euros ($830 million), but actual expenses are currently at 1.17 billion euros ($1.435).
The grid operator is looking to charge an additional P0.83 per kilowatt (kw) a month this year, P0.86 per kw a month in 2019, and P0.9 per kw a month in 2020.In terms of per kilowatt-hour, this is equivalent to P0.0016 per kwh in 2018 and in 2019 and P0.0017 in 2020.NGGP said it needs to immediately recover the actual expenses incurred for the repair, restoration and rehabilitation of the damaged transmission assets and other related facilities to allow the continuous provision of transmission service to the grid customers.
No other expenses other than the actual expenses incurred on air, rail and bus fares are the areas where one can claim the non-taxable reimbursement.