What is Foreclosure? Foreclosure is the legal right of a mortgage holder or other third-party lien holder to gain ownership of the property and/or the right to sell the property and use the proceeds to pay off the mortgage if the mortgage or lien is in default. It is a concept that has existed for centuries.
Business expenditures can be divided into capital and revenue expenditures. Capital expenditures are expenditures that produce benefits across multiple time periods, such as the costs to acquire and make ready for use long-term assets.
Tax rules cover not only what expenses can be deducted but also when -- in what year -- they can be deducted. Some types of expenditures are deductible in the year they are incurred but others must be taken over a number of future years.The first category is called current expenses, and the second capitalized expenditures. You need to know the difference between the two, and the tax rules for each type of expenditure.ome types of expenditures are deductible in the year they are incurred but others must be taken over a number of future years. The first category is called current expenses, and the second capitalized expenditures.