What is Business Expense?

Alternative Forms: Business expenses
Legal Definition
These are costs you do not have to capitalize or include in the cost of goods sold but can deduct in the current year. To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your field of business.
Legal Definition
Operating costs of a business, which are tax deductible. To qualify as a business expense, the cost must be ordinary, accepted and common in that business' trade and necessary, appropriate and useful in operating the business.
See also
Legal Definition
These are the various legitimate expenses that are incurred during conducting a business enterprise.