Business Expense

(redirected from business expenses)
Also found in: Dictionary, Thesaurus, Legal.

Business Expense

Costs that result from having and maintaining a business. Rent and employee salaries are primary (and expensive) examples of business expenses, as are office supplies and raw materials from which to make products. Under most circumstances, business expenses are tax deductible.
References in periodicals archive ?
Once again, the CCA did not offer a definitive answer as to whether the taxpayer's contributions to organizations that conduct lobbying were deductible business expenses because the nature and extent of these organizations' lobbying activities were not clear.
Under the safe harbor, local lodging expenses will be treated as an ordinary and necessary business expense if:
Generally, wage recharacterization is present when the employer structures compensation so that the employee receives the same or a substantially similar amount whether or not the employee incurs deductible business expenses related to the employer's business.
So how to explain this apparent inconsistency of tax treatments of deductions of business expenses settled by barter?
Speltz deducted the reimbursements on her schedule C as a business expense and the couple excluded the payments on their joint tax returns.
By contrast, consider accountants who do business through a corporation or LLC; have a city business license; lease space from an accounting firm; receive some work from the firm, but do work for, and are paid by, multiple clients generated independently of the firm; invoice the firm for the work done for the firm's clients; employ a staff; dictate the manner and means of the work; and pay their own business expenses.
An obvious benefit comes at tax time: Instead of depreciation or Alternative Minimum Tax (AMT), you may be able to deduct lease payments as business expenses.
This title is designed for those who must keep a diary on business use of automobile and other business expenses.
Sloane's contract becomes effective May 1, 2006, calling for payment of $275,000 annually, reimbursement for health insurance and reasonable business expenses, renewing annually and providing for a one time payment of $275,000 upon death or disability.
For example, accountable expense plans were developed to permit employees to be reimbursed by their employers for their business expenses without having to include the reimbursements in income.
Second, as employees, most clerics can be reimbursed by their organization for business expenses without any income tax consequences as long as the reimbursement is through an "accountable plan.

Full browser ?