Sentences with phrase «as ordinary business expenses»

Of course, as soon as ordinary business expenses are paid they become deductible as well.

On the other hand, it is treated as an ordinary business expense on the part of the employer.

Not exact matches

The IRS requires eligible business expenses be «ordinary» (something common and acceptable in that particular business) as well as «necessary» (something appropriate and helpful to the business).

The expenditures upon which we seek a report are those that Congress has said to not warrant a deduction as an ordinary and necessary business expense, namely, lobbying, participation in the political system by supporting or opposing candidates for office, and trying to influence the general public or segment thereof as to elections, legislative matters or referenda.

However, they may be tax deductible as ordinary and necessary business expenses subject to restrictions imposed by the Omnibus Budget Reconciliation Act of 1993 as a result of association lobbying activities.

Also, if the fines are paid to a nongovernmental entity, the payment is tax deductible so long as it is an ordinary and necessary business expense.

The IRS defines an eligible business expense as ordinary and necessary — essentially, something that's common in your particular area of business and needed to efficiently do business, such as a truck for a moving company.

The IRS is pretty vague about what qualifies, but they define deductible business expenses as an expense that is «both ordinary and necessary.»

Examples of ordinary deductible business expenses include operating expenses such as payroll, utilities, rent, leases, and other operational costs.

Dues may be deductible as ordinary and necessary business expenses.

Dues payments may, however, be deductible as an ordinary and necessary business expense except that portion used for lobbying activities which has been determined to be $ 50.00 of the National dues and $ 10.72 of the State dues.

Such payments may, however, be deductible as ordinary and necessary business expenses.