Business Interest Expense

Definition

  • Interest incurred in the operation of your business. It is deductible as a business expense.

Synonyms
deductible expense, operating cost, write off, percentage

Related Terms and Acronyms

  • Commercial Loan Definition,
    • A loan taken out by a business.
  • Cost of Goods Sold (COGS) Acronym,
    • An expense that appears on a business's income statement and represents the inventory cost of the goods sold during a particular period.
  • Expensing Definition,
    • Government tax law allows individuals to expense certain business activities.
  • Meals and Entertainment (M&E) Acronym,
    • 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).
  • Operational Expenses (OpEx) Abbreviation,
    • Costs accruing from a business's business operations.
  • Self Employed Person (SEP) Acronym,
    • A person who runs a trade or business, rather than working as an employee for someone else. You are self-employed if you are a sole proprietor or a partner working in a business. You can be an employee and self-employed at the same time if you have an independent business outside your regular employee hours. To qualify for many business tax exclusions and deductions, the enterprise must make a profit in three of five years. In most cases in order to qualify you must take and average of the last 2-3 years tax assessments.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage