ordinary and necessary expense

ordinary and necessary expense

An expense that is normal or usual and helpful or appropriate for the operation of a particular trade or business and that is paid or incurred during the taxable year.

? Ordinary and necessary expenses are tax-deductible.

¡ª Also termed ordinary and necessary business expense. [Cases: Internal Revenue 3318. C.J.S. Internal Revenue ¡ì¡ì 150, 152, 163, 184.]


What is the Chinese interpretation of ordinary and necessary expense?
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