Expense

About Expense:

costs that are currently deductible, as opposed to capital expenditures, which may not be currently deducted but must be depreciated or amortized over the useful life of the property. Certain costs may be expensed for accounting purposes but may not be deductible or may only be deductible later for tax purposes (e.g., goodwill and bad debts under the specific chargeoff method). Other costs, such as intangible drilling costs, may be tax deductible earlier than required for accounting purposes.

U.S. and other Developed Countries International Tax Meaning

Costs that are currently deductible, as opposed to capital expenditures, which may not be currently deducted but must be depreciated or amortized over the useful life of the property.