Charged to an expense account, fully reducing reported profit of that year, as is appropriate for expenditures for items with useful lives under one year.
Charged to an expense account, reducing the profit for a given project or assignment. The term is associated with charges connected to networking and other events used to attract clients or investors. Expensed items are written off on taxes as they reduce profit.
90-8 does not differentiate between the timing of the remedial expenditures (expensed in the year incurred to match income produced, irrespective of whether they are part of an overall plain of rehabilitation), the reasons substantiating the required cleanup (whether self-directed or government-imposed) or who caused the contamination (a taxpayer or another potentially responsible party).