Meanings of deductible expense in English

Where entertainment is provided only for directors, partners or sole proprietors, this is not seen as a deductible expense.

GM's $900 million payment will be treated as a penalty, and the automaker cannot treat it as a deductible expense.

The decision to restore interest relief as a deductible expense when calculating tax on residential rental income reverses a decision taken in April 1998.

But a company spokesman said yesterday the £24,595 involved was not treated as a deductible expense for company tax purposes.

It covers all deductible expenses and can be used by multiple people working from home in the same house.

The break is the 11th biggest for taxpayers after such deductible expenses as employer-provided health coverage and home-mortgage interest, according to White House data.

That Wisconsin taxable profits could well have been converted into tax- deductible expenses by paying royalties and interest to family-owned subsidiaries in low-tax and no-tax jurisdictions.