Ordinary And Necessary Business Expenses

Definition of "Ordinary and necessary business expenses"

Urs Klarer real estate agent
Urs Klarer Coldwell Banker Residential Brokerage - Darien

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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