Business Expense

Direct Cost
Labor and materials that can be identified physically in the product produced. Direct costs for an apartment building, for example, are construction materials and labor; indirect costs include architect's fees, interest during construction, insurance, and builder's overhead and profit allowance.
Unemployment Insurance Tax (UIT)
Learn about the Unemployment Insurance Tax which is deductible as a business expense for employers and understand its implications and relation to the Federal Unemployment Tax Act (FUTA).

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.