deductible business expense — An expenditure that is ordinary and necessary for running a business and deductible from the businesss gross receipts so that it is not counted toward taxable income. Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping &… … Law dictionary
deductible — An amount or period which must be deducted before an insurance payout or settlement is calculated. Bloomberg Financial Dictionary * * * ▪ I. deductible de‧duct‧i‧ble 1 [dɪˈdʌktbl] noun 1. [countable usually plural] ACCOUNTING a payment that is… … Financial and business terms
capital expenditure — n: an amount paid out that creates a long term benefit (as one lasting beyond the taxable year); esp: costs that are incurred in the acquisition or improvement of property (as capital assets) or that are otherwise chargeable to a capital account… … Law dictionary
Mineral Resource Rent Tax — The Minerals Resource Rent Tax (MRRT) is a proposed tax on profits generated from the exploitation of non renewable resources in Australia.[1] It is the replacement for the proposed Resource Super Profit Tax (RSPT). The tax, levied on 30% of the… … Wikipedia
deductibility — Ⅰ. deductible UK US (Australian also deductable) /dɪˈdʌktɪbl̩/ US / ṱə / adjective ► relating to an amount or part that can be taken away from a total: »However, the supplementary benefit that he was receiving was deductible from the figure… … Financial and business terms
Schedular system of taxation — The Schedular system of taxation is the system of how the charge to United Kingdom corporation tax is applied. It also applied to United Kingdom income tax before legislation was rewritten by the tax law rewrite project. Similar systems apply in… … Wikipedia
Expense — Expenses redirects here. For the row about members expenses in the UK Parliament which started about May 2009, see United Kingdom Parliamentary expenses scandal. Accountancy Key concepts Accountant · Accounting period ·… … Wikipedia
Midland Empire Packing Company v. Commissioner — of Internal Revenue Court United States Tax Court Date decided April 19, 1950 Citation(s) 14 T.C. 635 Judge(s) sitting Arundell Case opinions … Wikipedia
expense — ex·pense 1 n: financial burden or outlay; specif: an item of business outlay chargeable against revenue for a specific period busi·ness expense: an expense made in furtherance of one s business esp. as part of the cost of operating a business in… … Law dictionary
Mt. Morris Drive-in Theatre Co. v. Commissioner — Mt. Morris Drive in Theatre Co. v. Commissioner., 25 T.C. 272 (1955)[1], was a case in which the court considered whether the $8,224 spent to construct a drive in theatre s drainage system was deductible as an ordinary and necessary business… … Wikipedia
