A payment to a charitable organization that is directly related to the taxpayer's business with a "reasonable expectation of financial return commensurate with" the amount paid is deductible as a business expense
rather than a charitable contribution [IRC section 162(b), Treasury Regulations section 1.
The credit card, called Jet Airways ICICI Bank Business Advantage Card, would allow the customers to save on their business expenses
Section 179 is a big one, but many other business expense
deductions are available throughout the course of a year.
Under the safe harbor, local lodging expenses will be treated as an ordinary and necessary business expense
This type of arrangement is known as "wage recharacterization" because the payment is not a business expense
reimbursement but rather a substitute for an amount that would otherwise be paid as wages.
Third-party business expense
was USD 55m in the third quarter.
Therefore, you can't use it as a business expense
to reduce your tax bill.
Remember that membership dues are not deductible as a charitable expense, but rather they may be deductible as a business expense
if you itemize.
Although the IRS has reiterated on numerous occasions the requirement to include in income the receipt of products or services received in an exchange of products or services, it does not state as unambiguously that, in addition to the actual costs incurred in the provision of services or products, the barterer is also entitled to deduct the business expense
of the services and goods received in the exchange.
Speltz deducted the reimbursements on her schedule C as a business expense
and the couple excluded the payments on their joint tax returns.
The employee would have been entitled to a business expense
deduction if the property or services that were provided by the employer had been purchased by the employee; and
One measure of their commonness," TEI said, "is their longstanding treatment as an ordinary and necessary business expense
deduction under section 162.
1990 Business Expense
Log, Commerce Clearing House, inc.
whether a particular business expense
qualifies for a deduction.