Assertion: expense | /r/HasProperty | deductible
Facets:
value: usually
type: DEGREE
value: no longer
type: TEMPORAL
value: to the extent
type: OTHER
value: for tax purposes
type: PURPOSE
value: fully
type: DEGREE
value: as business entertainment expenses
type: OTHER
value: within certain limits
type: OTHER
value: as a general rule
type: OTHER
value: as long as it is
type: OTHER
value: partially
type: DEGREE
Source sentences:
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: These expenses are tax deductible because they are considered business expenses.
text: These expenses are tax-deductible within certain limits.
text: These expenses are deductible business expenses, but in a different way from other business assets.
text: In addition to being an expense and satisfying elements 1-4 above, expenses are deductible as an investment activity under Section 212 of the Internal Revenue Code if they are (1) for the production or collection of income, (2) for the management, conservation, or maintenance of property held for the production of income, or (3) in connection with the determination, collection, or refund of any tax.
text: Consequently, these expenses will be considered business expenses and are tax deductible.
text: Some expenses might be only partially deductible or not deductible at all.
text: Some expenses might be only partially deductible or not deductible at all.
text: These expenses are usually deductible if the business operates to make a profit.
text: Special limits apply to what expenses for a not-for-profit activity are deductible; for detailed information, refer to Publication 535, Business Expenses.
text: The IRS has defined business expenses as “the cost of carrying on a trade or business,” going on to say that these expenses are usually deductible if the business operates to make a profit.
text: To be clear, expenses for entertaining clients are no longer deductible as business entertainment expenses.
text: And what expenses are deductible?
text: are expenses that only apply to the business part of the home and are deductible in full.
text: Virtually any expense is deductible as long as it is:
text: Expenses for travel between your home and other work locations are deductible if your residence is your principal place of business.
text: To determine whether an expense is deductible, see Can I Deduct My Medical and Dental Expenses?
text: The taxpayer argued that these expenses were deductible, but the IRS stated that the costs should be capitalized.
text: For example, if you run a nightclub, your expense for the entertainment you furnish to your customers, such as a floor show, is a business expense that is fully deductible.
text: The expense of providing recreational, social, or similar activities (including the use of a facility) for your employees is deductible and isn’t subject to the 50% limit.
text: To be deductible for tax purposes, expenses incurred for travel and non-entertainment related meals must be ordinary and necessary expenses incurred while carrying on your trade or business.
text: Expenses for completing the remainder of the return are miscellaneous deductions and are no longer deductible.
text: These expenses are deductible to the extent they exceed 2 percent of your adjusted gross income.
text: The confusion stems from the fact that the LDA includes expenses that are deductible.
text: An expense is typically deductible if it's not associated with lobbying efforts or any type of bid to influence legislation.
text: To be deductible, your expenses must be for education that (1) maintains or improves skills needed in your present work or (2) a law requires to keep your present salary, status or job.