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Operational Costs

These are the typical expenses incurred to run a business. They are generally those costs not included in cost of goods sold and include mostly the office related expenses.

Internal Revenue Service (IRS) Definition of an Expense


The Internal Revenue Service defines a business expense as ‘ordinary’ and ‘necessary’.  Ordinary expenses are those costs typically incurred in your industry.  So a restaurant would not ordinarily purchase vaccines.  And a medical [...]