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.

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

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  • 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

  • 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

  • expense — ex‧pense [ɪkˈspens] noun 1. [countable, uncountable] ACCOUNTING an amount of money that a business or organization has to spend on something: • Most advertisers look upon advertising as an expense and not an investment, which is a mistake. • The… …   Financial and business terms

  • expense — noun 1 cost/money spent on sth ADJECTIVE ▪ considerable, enormous, great, huge, significant, vast ▪ added, additional, extra …   Collocations dictionary


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