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business expense

   Also found in: Dictionary/thesaurus 0.03 sec.
See: cost


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whether a particular business expense qualifies for a deduction.
Meals and Entertainment--50 percent deductible, if it is a reasonable and necessary business expense.
This occurs when employees are provided with property or a service they could have deducted under section 162 as an ordinary and necessary business expense had they paid for it themselves.
 
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