Legacy Planning â Dynasty Trust. A dynasty trust is a long-term trust created specifically to benefit descendents of multiple generations. It offers both tax and nontax advantages because it makes the most of the generation-skipping transfer (GST) tax exemption.
B. Anatomy of the Operating Expense Provision. 1. General Statements of Intent. a) Landlord: âThe parties acknowledged that this is a net lease, and the fixed rent set forth above is intended to be payable to the Landlord net of all costs and expenses of ownership and operation of the Building.â b) Tenant.
Several types of expenses affect profits for a business including equipment costs, inventory and facilities costs. There are two main categories for all business expenses: operating expenses and overhead expenses. The costs that fall into each category depend on the nature of the business. Essentially, operating expenses are directly related to production, while overhead expenses are the costs to run the business. Operating expenses include materials, labor and machinery used to make a product or deliver a service. For example, a soda bottler has the cost of aluminum for cans, machinery costs and labor costs.