Expense - Law Dictionary Search Results
Home Dictionary Name: expenseexpense
expense : 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 the taxable year in which the expense is incurred compare capital expense and personal expense in this entry NOTE: Business expenses are generally tax deductible in the year the expense is incurred. capital expense : an expense made in a business that will provide a long-term benefit : capital expenditure NOTE: Capital expenses are not tax deductible as business expenses but may be used for depreciation or amortization. mov·ing expense : an expense incurred in changing one's residence that is tax deductible if incurred for business reasons (as when one's job requires relocation) or·di·nary and nec·es·sary expense : an expense that is normal or customary and helpful and appropriate for the operation of a ...
bad debt expense
bad debt expense An expense account that reflects the amount of your company's accounts that are not collectable, that is the amount of your company's accounts that are "bad debts." A "bad debt expense" account is an expense account of your company. A typical company makes an estimate as to how much it has in bad debts on a periodic (usually monthly) basis. For example, your company estimates that it has about $1,200 per year in accounts that are not collectable. Your company would make the following accounting entries each month: a debit to your "bad debt expense" account in the amount of $100, and a credit to your "allowance for bad debts" account in the amount of $100. When you actually decide that a particular debt is not collectable, you would not make an entry to the "bad debt expense" account. Instead, you would debit your company's "allowance for bad debts" account for the amount of the bad debt and credit your accounts receivable account for that amount. ...
operating expenses
operating expenses The expenses of a business not directly associated with the making of a product or providing of a service, such as administrative, technical or selling expenses ...
ordinary and necessary business expense
ordinary and necessary business expense : ordinary and necessary expense at expense ...
Expensive
Occasioning expense calling for liberal outlay costly dear liberal as expensive dress an expensive house or family...
business expense
business expense see expense ...
capital expense
capital expense see expense ...
credit related expenses
credit related expenses foreclosed property expenses plus the provision for losses. Source: U.S. Department of Housing and Urban Development ...
employment expenses
employment expenses Ordinary and necessary expenses necessary to perform the duties for which an employee was hired. ...
entertainment expenses
entertainment expenses Employment expenses that have an element of entertainment that is directly related to conducting business. ...
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