Ordinary And Necessary Business Expenses


Definition of "Ordinary and necessary business expenses"

James "Buddy" Williamson real estate agent
James "Buddy" Williamson, Real Estate Agent Maryland Real Estate

Tax term describing current and necessary business expenses. Ordinary and necessary business expenses do not include long-term capital losses. For example, the XYZ stationary store deducts their utility costs on their tax return as an ordinary and necessary business expense.

 

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