Assertion: expense | /r/HasProperty | paid
Facets:
value: from plan assets
type: OTHER
value: from the plan
type: OTHER
value: from personal funds
type: OTHER
Source sentences:
text: Under cash basis accounting, expenses are recorded when they are paid.
text: An expense is a cost that is "paid" or "remitted", usually in exchange for something of value.
text: For tax purposes, the Internal Revenue Code permits the deduction of business expenses in the tax payable year in which those expenses are paid or incurred.
text: As a general rule, expenses are deductible if they relate to a taxpayer's trade or business activity or if the expense is paid or incurred in the production or collection of income from an activity that does not rise to the level of a trade or business (investment activity).
text: Following the accrual method of accounting, expenses are recognized when they are incurred, not necessarily when they are paid.
text: If using the cash method of accounting, the expense is written off when it is paid for.
text: Under the accrual basis of accounting, the matching is NOT based on the date that the expenses are paid.
text: Under the cash method of accounting, you can't deduct a prepaid expense amount (other than for inventory) relating to a tax year that is two or more years after the year the expense is paid.
text: An expense is a cost that is "paid" or "remitted", usually in exchange for something of value.
text: According to the accrual basis of accounting, expenses must be recorded when they are incurred, not necessarily when they are paid.
text: These expenses should be paid from personal funds and kept separate from your business.
text: You can include medical expenses that you paid for a child before adoption if the child qualified as your dependent when the medical services were provided or when the expenses were paid.
text: These expenses are paid from the forfeitures of Agency/Service Automatic (1%) Contributions of FERS and BRS participants who leave federal service before they are vested, other forfeitures, loan fees, and — because those forfeitures are not sufficient to cover all of the TSP’s expenses — earnings on participants’ accounts.
text: Your employees return any excess reimbursement within 120 days after the expenses were paid or incurred.
text: Your employees adequately account for their expenses within 60 days after the expenses were paid or incurred.
text: At a minimum, the plan and/or trust document must permit expenses to be paid from plan assets.
text: First, the plan sponsor must determine whether the expense is permitted to be paid from plan assets.
text: Even if an expense is non-settlor and can be paid from the plan, the amount cannot be unreasonable.