deductible business expense

deductible business expense
An expenditure that is ordinary and necessary for running a business and deductible from the businesss gross receipts so that it is not counted toward taxable income.
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Personal Finance & Retirement → Taxes → Tax Audits

Nolo’s Plain-English Law Dictionary. . 2009.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • deductible — de·duc·ti·ble 1 /di dək tə bəl/ adj: allowable as a deduction de·duc·ti·bil·i·ty / ˌdək tə bi lə tē/ n deductible 2 n: a clause in an insurance policy that relieves the insurer of responsibility for an initial specified loss of the kind insured… …   Law dictionary

  • expense — ex·pense 1 n: financial burden or outlay; specif: an item of business outlay chargeable against revenue for a specific period busi·ness expense: an expense made in furtherance of one s business esp. as part of the cost of operating a business in… …   Law dictionary

  • Business overhead expense disability insurance — Business overhead expense (BOE) disability insurance pays the insured’s business overhead expenses if he or she becomes disabled. A BOE policy pays a monthly benefit based on actual expenses, not anticipated profits. It is designed for businesses …   Wikipedia

  • Expense — Expenses redirects here. For the row about members expenses in the UK Parliament which started about May 2009, see United Kingdom Parliamentary expenses scandal. Accountancy Key concepts Accountant · Accounting period ·… …   Wikipedia

  • business — Employment, occupation, profession, or commercial activity engaged in for gain or livelihood. Activity or enterprise for gain, benefit, advantage or livelihood. Union League Club v. Johnson, 18 Cal.2d 275, 108 P.2d 487, 490. Enterprise in which… …   Black's law dictionary

  • business — Employment, occupation, profession, or commercial activity engaged in for gain or livelihood. Activity or enterprise for gain, benefit, advantage or livelihood. Union League Club v. Johnson, 18 Cal.2d 275, 108 P.2d 487, 490. Enterprise in which… …   Black's law dictionary

  • Business Interest Expense — The cost of interest that is charged on business loans used to operate the business. Business interest is deductible as an ordinary business expense. The loan must be used to either purchase assets for the business or pay for business expenses.… …   Investment dictionary

  • expense — That which is expended, laid out or consumed. An outlay; charge; cost; price. The expenditure of money, time, labor, resources, and thought. That which is expended in order to secure benefit or bring about a result. Shinrone Farms, Inc. v. Gosch …   Black's law dictionary

  • expense — That which is expended, laid out or consumed. An outlay; charge; cost; price. The expenditure of money, time, labor, resources, and thought. That which is expended in order to secure benefit or bring about a result. Shinrone Farms, Inc. v. Gosch …   Black's law dictionary

  • deductible — An amount or period which must be deducted before an insurance payout or settlement is calculated. Bloomberg Financial Dictionary * * * ▪ I. deductible de‧duct‧i‧ble 1 [dɪˈdʌktbl] noun 1. [countable usually plural] ACCOUNTING a payment that is… …   Financial and business terms

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”