expense


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Expenses

Costs of living or doing business. Examples of personal expenses include the mortgage payment, groceries, and gas for the car. Examples of business expenses include the cost of materials, employee salaries, and other overhead. Expenses also include unusual costs like medical bills or employee bonuses. Businesses attempt to keep costs to the lowest possible amount without sacrificing revenue. This maximizes profit. Likewise, households generally attempt (and in many cases must) keep expenses lower than household income. While business expenses are generally tax deductible, most personal expenses are not.

expense

any expenditure which is chargeable to the trading activities of an accounting period. This includes cash expenditures on materials and labour, and non-cash items of expenditure such as credit purchases and depreciation.
References in periodicals archive ?
The Tax Court has held that the cost of tutoring provided to students with disabilities may be deductible as a medical expense, if it exceeds general tutoring or is provided by an educator trained to teach children with learning disabilities; see Sims, TC Memo 1979-499, and Rev.
When a company grants an employee an NQSO, it recognizes the related compensation expense and records a tax benefit equal to the compensation expense multiplied by the company's income tax rate.
- Expense Billing Markup - Provides the ability to automatically apply a percent markup on an expense item.
Visa International introduces the Visa Central Travel Account Program throughout Latin America and Caribbean, a special corporate card account designed to provide companies with greater control over travel expenses and more efficiency in the accounting and reconciliation processes.
Difficulty in maintaining compensation pool at desired level due to increasing industry-wide expense structure
TEI commends the IRS and Treasury for seeking to simplify the section 861 rules by adopting an alternative tax book value method for depreciation expense. Indeed, we believe that there are other areas (such as goodwill) where distortions may occur that would benefit from similar rules.
The solution includes support for all expense process features, including manager approval, accounts payable review, re-submission, short pay, rejection and audit.
Recording and tracking expense detail will give an agency owner the ability to address any expense items with a professional valuation analyst.
The bold decision to include painting costs in the unusual expenses category ruffled more than a few feathers.
* health care expenses that are not reimbursed by a company's insurance plan;
The strong increases in noninterest income improved the noninterest margin steadily from 1985 to 1990, with an overall decrease in the negative spread between noninterest income and expense of 18 basis points.
In such cases, a special exception applies if the per-diem payment was "paid or incurred by one person...under a reimbursement or other expense allowance arrangement with another person other than an employer;" see Regs.