MLchartDataset catalogue

Business expense

Term · Law · MLC-T-LAW-000806

A cost incurred by a business in the course of its operations that is deductible for tax purposes. These expenses must be ordinary and necessary for the business to function and generate income. Examples include rent, salaries, utilities, and advertising, subject to specific Internal Revenue Service regulations.

Table 1. Record
IdentifierMLC-T-LAW-000806
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000806",
  "term": "Business expense",
  "field": "Law",
  "definition": "A cost incurred by a business in the course of its operations that is deductible for tax purposes. These expenses must be ordinary and necessary for the business to function and generate income. Examples include rent, salaries, utilities, and advertising, subject to specific Internal Revenue Service regulations.",
  "url": "https://mlchart.com/terminology/law/business-expense/"
}

Record 612 of 5,441 in Law terminology (MLC-0107). Request the full dataset.