One of the mysteries of the English language finally explained.
- ‘The portion allocable to the employee's personal use is generally taxable to the employee as a fringe benefit.’
- ‘They are potentially liable to the artist for the artist's losses, for an allocable portion the profits they earned, attorneys fees and treble damages (in the trademark cases).’
- ‘After allocating the basis and the amount realized between these portions, Bob determines that $12,000 of the gain is allocable to the residential portion and $6,000 is allocable to the rental portion.’
- ‘However, when a trip is primarily for vacation, the entire cost of the trip is a non-deductible personal expense, except for any expenses you have while at your destination that are directly allocable to your business.’
- ‘On the surface, using a cost-type contract may appear to be the wrong type because it essentially results in the payment of all allowable and allocable costs.’
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