1 The above figures place the cost of the addition at $124 per square foot. 2  This pricing structure assumes that carpenters charge an average of $70 per hour, electricians between $65 to $85 per hour, and painters between $20 and $35 per hour.
Generally speaking, this field is what is used to capture the detailed explanation of the business reason behind the expenses that are included on the report. On expense reports that are created using the Business Expenses template, not all expenses on the report may be related to each other.
An ordinary expense, the IRS says in Publication 535, Business Expenses, is one that is common and accepted in your industry. A necessary expense is one that is helpful and appropriate for your trade or business.. We make five distinctions when analyzing expenses. We separate personal expenses from business expenses. We separate business expenses into three broad types: cost of goods sold, capital expenditures, and deductible expenditures.