Best answer: Is property tax an administrative expense?

What are considered administrative expenses?

Wages and benefits to certain employees, such as accounting and IT staff, are considered administrative expenses. All executive compensation and benefits are considered an administrative expense. … Organizations may choose to include consulting and legal fees as an administrative expense as well.

Is property tax operating expense?

Operating expenses include all of the costs associated with operating the property. These include property management fees, insurance, utilities, property taxes, repairs, and maintenance.

What are the 4 types of expenses?

Terms in this set (4)

  • Variable expenses. Expenses that vary from month to month (electriticy, gas, groceries, clothing).
  • Fixed expenses. Expenses that remain the same from month to month(rent, cable bill, car payment)
  • Intermittent expenses. …
  • Discretionary (non-essential) expenses.

How do you calculate administrative costs?

It is calculated by dividing the reported operating profit by the sales for that period. Alternatively, start with reported revenue and subtract cost of goods sold, SG&A and other overhead costs. Divide the operating income total by reported revenue and multiply it by 100 to express as a percentage.

How many types of operating expenses are their?

Different operating expenses accrued for a typical office may include accounting expenditures, insurance costs, payments for property taxes and utilities, repair and rental fees for non-production facilities, office supplies, and legal fees.

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What falls under other operating income?

Other operating income includes revenue from all other operating activities which are not related to the principal activities of the company, such as gains/losses from disposals, interest income, dividend income, etc. … However, some business models generate higher levels of other operating income than others.

What are examples of non-operating expenses?

What are examples of non-operating expenses? Interest payments, the costs of disposing of property or assets not related to operations, restructuring costs, inventory write-downs, lawsuits, and other one-time charges are common examples.

What are examples of general and administrative expenses?

Examples of general and administrative (G&A) expenses include building rent, consultant fees, depreciation on office furniture and equipment, insurance, supplies, subscriptions, and utilities.

How can administrative expenses be reduced?

Here are 4 ways that teaming up with an outsourced HR partner can significantly reduce your administrative costs.

  1. Lower the Cost of Benefits. Benefits provide tangible benefits to your company. …
  2. Consolidate HR Technology. HR tech is expensive. …
  3. Lower Workers Comp Costs. …
  4. Reduce Administrative Burdens.

What are general expenses?

General expenses are the costs a business incurs as part of its daily operations, separate from selling and administration expenses. … Examples of general expenses include rent, utilities, postage, supplies and computer equipment.