Assertion: business expense | /r/HasProperty | deductible
Facets:
value: from the employee's taxable income
type: OTHER
value: by the employer
type: OTHER
value: as miscellaneous itemized deductions
type: OTHER
value: no longer
type: TEMPORAL
value: fully
type: DEGREE
Source sentences:
text: According to the IRS, to be deductible, a business expense "must be both ordinary and necessary.
text: Some business expenses may be fully deductible while others are only partially deductible.﻿﻿ Below are some examples of allowable, fully deductible expenses:
text: To be deductible, a business expense must be both ordinary and necessary.
text: For years 2018 and later, employee business expenses are no longer deductible.
text: However, they are deductible by the employer if they reimburse the employee.
text: Business expenses paid out of a nonaccountable plan are deductible from the employee's taxable income only as miscellaneous itemized deductions, and even then, they are only deductible if the expenses are equal to or greater than 2% of the employee's income.
text: “To be deductible, a business expense must be both ordinary and necessary.
text: Business expenses for heat, lights, power, telephone service, and water and sewerage are deductible.
text: To be deductible, a business expense must be both "ordinary" and "necessary.