{"id":360884,"date":"2013-01-28T16:34:14","date_gmt":"2013-01-28T21:34:14","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/dictionary\/definition\/expense.html"},"modified":"2013-01-28T16:34:14","modified_gmt":"2013-01-28T21:34:14","slug":"expense","status":"publish","type":"dictionary","link":"https:\/\/dictionary.findlaw.com\/definition\/expense.html","title":{"rendered":"Expense"},"content":{"rendered":"\n
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term:<\/p>\n

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n<\/p><\/dt>\n

:<\/b> financial burden or outlay
;specif<\/i>
:<\/b> an item of business outlay chargeable against revenue for a specific period <\/p>\n

busi·ness expense<\/b>
:<\/b> 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<\/a> and personal expense<\/a> in this entry NOTE: Business expenses are generally tax deductible in the year the expense is incurred. <\/i> <\/p>\n

capital expense<\/b>
:<\/b> an expense made in a business that will provide a long-term benefit
:<\/b> capital expenditure <\/a> NOTE: Capital expenses are not tax deductible as business expenses but may be used for depreciation or amortization. <\/i> <\/p>\n

mov·ing expense<\/b>
:<\/b> an expense incurred in changing one’s residence that is tax deductible if incurred for business reasons (as when one’s job requires relocation) <\/p>\n

or·di·nary and nec·es·sary expense<\/b>
:<\/b> an expense that is normal or customary and helpful and appropriate for the operation of a particular business or trade and that is made during the taxable year called also ordinary and necessary business expense<\/i> NOTE: Ordinary and necessary expenses are tax deductible. <\/i> <\/p>\n

per·son·al expense<\/b>
:<\/b> an expense incurred in the course of one’s personal affairs as distinguished from the course of one’s employment or the operation of a business compare business expense<\/a> in this entry NOTE: Personal expenses are usually not tax deductible. <\/i>
vt ex·pensed<\/b>
ex·pens·ing<\/b>
1<\/b> :<\/b> to charge with expenses
2<\/b> :<\/b> to write off as an expense <\/p>\n<\/dd>\n<\/dl>\n

Source: Merriam-Webster’s Dictionary of Law \u00a91996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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