ordinary and necessary business expense
ordinary and necessary business expense. See ordinary and necessary expense under EXPENSE.
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Search Results for: ORDINARY AND NECESSARY BUSINESS EXPENSE
ordinary and necessary expense
An expense that is normal or usual and helpful or appropriate for the operation of a particular trade or business and that is paid or incurred during the taxable year. • Ordinary and necessary expenses are tax-deductible. — Also termed ordinary and necessary business expense. [Cases: Internal Revenue 3318. C.J.S. Internal Revenue §§ 150, 152,
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necessary business expense
necessary business expense 必需的业务费用 适当的、有益的费用。 (→ordinary and necessary expense)
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capitalize
capitalize, vb. 1. To convert (earnings) into capital. 2. To treat (a cost) as a capital expenditure rather than an ordinary and necessary expense. 3. To determine the present value of (long-term income). 4. To supply capital for (a business).