NOUN | possession | business expense, trade expense | ordinary and necessary expenses incurred in a taxpayer's business or trade |
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Meaning | ordinary and necessary expenses incurred in a taxpayer's business or trade. | |
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Synonym | trade expense | |
Narrower | organization expense | The cost (over a period of five years) of organizing a new corporation or partnership |
promotional expense | The cost of promoting a product | |
Broader | expense, disbursal, disbursement | Amounts paid for goods and services that may be currently tax deductible (as opposed to capital expenditures) |
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