business expense


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See: cost
References in periodicals archive ?
In FSA 1999-1166, it concluded that the stock warrant transactions resulted in capital expenditures, not deductible business expenses.
5 million is deducted currently as a business expense.
103) At least one court has held that break-up fees paid to a white knight are deductible as a business expense under section 162.
39) During the legislative process leading to the enactment of section 197, it was stated that "some costs that are paid or incurred to create, maintain, or enhance the value of certain intangible assets may be deducted as ordinary and necessary business expenses for the year that the costs are paid or incurred.
Employee business expenses are miscellaneous itemized deductions and subject to complete disallowance for AMT purposes (as well as the reductions mandated by Secs.
To successfully defend the cost of this travel as a business expense, it must be ordinary, necessary, reasonable and not lavish.
Expenses incurred to promote products, services, or institutional goodwill have been deductible as ordinary and necessary business expenses since the inception of the income tax.
In that case, the court found that the taxpayer "routinely" paid for certain expenses (principally, travel and entertainment expenses), deemed ordinary and necessary business expenses to the partnership, from his own funds.
If the directors proceeded without a fairness opinion, the cost of defending the directors in any subsequent legal action would be a business expense.
The employer claims an ordinary business expense deduction under section 162 while the employee typically pays no tax, because the entire amount is treated as proceeds of the sale (with no part included in income under section 82) and because section 1034 will typically operate to defer gain on the sale of the employee's residence.
In addition to the above requirements, section 274(n)(1) limits the tax deductible amount of any food, beverage, or entertainment outlay--including the costs of a facility used in connection with such activity-to 50% of the amount section 162 otherwise allows as an ordinary and necessary business expense.
Next, the tax adviser reviews the proposed employee business expense reimbursement policy.

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