Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.Īnnual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series' assets with respect to the Class for the period involved: (i) investment advisory fees, if any (ii) Rule 12b-1 distribution fees, if any and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees' fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series' statement of operations in accordance with generally accepted accounting principles. More Definitions of Monthly Office Expense The term "Dispensary Business Office - Expense Monthly Office Expense" shall have the meaning set forth in Section 6.1 hereof. The term "Principal - Services Monthly Office Expense" shall mean, for any month, the amount of Principal Services Budgeted Office Expense for such month, plus or minus any difference between (i) the actual Principal Services Office Expense incurred by or on behalf of Practice for month (other than the Principal Services Management Fee) and (ii) Principal Services Budgeted Office Expense for month. The term "Principal - Services Monthly Office Expense" shall mean, for any month, the amount of Principal Services Budgeted Office Expense for such month, plus or minus any difference between (i) the actual Principal Services Office Expense incurred by or on behalf of Practice for such month (other than the Principal Services Management Fee) and (ii) Principal Services Budgeted Office Expense for such month. The term "Principal Services Monthly Office Expense" shall have the meaning set forth in Section 6.1 hereof. The term "Dispensary Business - Monthly Office Expense" shall have the meaning set forth in Section 6.1 hereof. The term "Dispensary Business Monthly Office Expense" shall have the meaning set forth in Section 6.1 hereof. The term "Dispensary - Business Monthly Office Expense" shall have the meaning set forth in Section 6.1 hereof. The term "Dispensary - Business Monthly Office Expense" for any month shall mean the amount of Dispensary Business Budgeted Office Expense for such month, plus or minus any difference between (i) the actual Dispensary Business Office Expense incurred by or on behalf of Practice for the previous month (other than the Dispensary Business Management Fee) and (ii) Dispensary Business Budgeted Office Expense for the previous month. The term "Principal - Services Monthly Office Expense" shall have the meaning set forth in Section 6.1 hereof. The term " Monthly Office Expense" shall - have the meaning set forth in Section 6.1 hereof. Office Supplies are the traditional office items, like pens, staplers, paper clips, USB thumb drives, and printer ink cartridges that get used up by employees.Examples of Monthly Office Expense in a sentence You can deduct business assets (including office assets) that cost $2,500 or less.You may deduct 100% of the cost of office supplies and materials you keep on hand and have used during the year.This is property that can be used for both business and personal purposes, and you are allowed to deduct the portion used for business. Some office equipment may be listed as property.
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