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ex·pense 1 n: financial burden or outlay; specif: an item of business outlay chargeable against revenue for a specific periodbusi·ness expense: 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 and personal expense in this entry◇ Business expenses are generally tax deductible in the year the expense is incurred.capital expense: an expense made in a business that will provide a long-term benefit: capital expenditure◇ Capital expenses are not tax deductible as business expenses but may be used for depreciation or amortization.mov·ing expense: an expense incurred in changing one's residence that is tax deductible if incurred for business reasons (as when one's job requires relocation)or·di·nary and nec·es·sary expense: 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;◇ Ordinary and necessary expenses are tax deductible.per·son·al expense: 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 in this entry◇ Personal expenses are usu. not tax deductible.expense 2 vt ex·pensed, ex·pens·ing1: to charge with expenses2: to write off as an expense
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
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I
(cost) noun
amount, appraisal, appraisement, assessment, budgeted items, buying price, charge, consideration, cost incurred, costliness, debit, defrayal, defrayment, discharge of a debt, dispendium, drain on resources, due, exaction, exactment, expenditure, fair value, fee, impendium, impensa, market price, monetary value, money expended, obligation, outgo, outlay, overhead, payment, price, rate, remittance, sum, sum charged, valuation, value, worth
associated concepts: accrued business expense, actual expenses, capital expense, collection expense, contingent expense, current expenses, deductible expense, disbursements, expenditures of an estate, expenses in bringing an action, expenses incurred, expenses of administration, expenses of condemnation, expenses of receivership, extraordinary expenses, general operating expense, incidental expenses, legitimate expense, maintenance expense, mandatory expense, necessary and regular expense, necessary business expense, nonbusiness expense, office expenses, operating expenses, ordinary expenses, personal expenses, proper expenses, reasonable expenses, unusual expenses, witness expenses
II
(sacrifice) noun
abandonment, casualty, cession, concession, consumption, costliness, damage, decline, deprival, deprivation, deterioration, detriment, disadvantage, disposal, dissipation, dissolution, drain, drain on resources, erosion, forfeit, forfeiture harm, hurt, ill fortune, impairment, injury, loss, penalty, privation, relinquishment, renunciation, surrender
III
index
charge (cost), disbursement (funds paid out), expenditure, fare, fee (charge), maintenance (upkeep), outflow, outlay, overhead, payment (remittance), price, rate, value, worth
Burton's Legal Thesaurus. William C. Burton. 2006
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n.Cost; the amount of money spent on something.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
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In business accounting and business taxation, any current cost of operation, such as rent, utilities, and payroll, as distinguished from a capital expenditure for long-term property and equipment.Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & FinancesCategory: Business Cash Flow Problems & BankruptcyCategory: Business, LLCs & Corporations → Business Tax & DeductionsCategory: Personal Finance & Retirement → Taxes → Tax AuditsCategory: Real Estate & Rental Property
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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expense (insolvency)England, WalesThe costs and expenses properly incurred by an insolvency practitioner in the course of his appointment over an insolvent estate. Insolvency expenses are paid out of asset realisations before any distribution to the holders of floating charges or unsecured creditors. What ranks as an insolvency expense is defined by rule 2.67 of the Insolvency Rules 1986 (administration) and rule 4.218 of the Insolvency Rules 1986 (liquidation).
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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n.in business accounting and business taxation, any current cost of operation, such as rent, utilities and payroll, as distinguished from capital expenditure for long-term property and equipment.See also: capital expenditure
Law dictionary. EdwART. 2013.
