GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Expensing


Synonyms:business expense, charge, expenditure
Filed Under: financial-banking, taxation
Tags: banking, taxes
 

Definition of expensing

expensing
1. The method allowed under Government tax law that allows you to expense certain business activities.

Related Terms and Acronyms:

  • business interest expense   Interest acquired in business operations can be deducted as a business expense.
  • credit card (CC)   A plastic card with a coded magnetic stripe that, when signed, entitles its bearer to a revolving line of credit, with a credit limit and interest rate determined by the borrower's income and credit report.
      ➥  A payment card that gives customers access to a revolving line of credit.
  • debit card (DC)   A payment card that is linked directly to a customer's bank account. Some cards require a personal identification number. Others require a customer's signature. A PIN-based or direct debit card removes a purchase price from a customer's chequing account almost immediately. A signature-based or deferred debit card has a Visa or MasterCard logo and removes the purchase price from a customer's bank account in two or three days.
  • meals and entertainment (M&E)   Deductible expenses in your business such as the cost of taking a client to a restaurant (meals) or a sporting event (entertainment). However, these expenses are only partially deductible (50 % in Canada).
  • transaction   Action in a bank account. It may be a deposit, withdrawal, debit card payment, service charge or interest payment.

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