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Operating expenses of a business not deductible as an administrative expense. (Technical Advice Memorandum 9132003) (1173 words) |
 | The expenses contemplated in the law are those only that attend settlement of an estate and the transfer of the property of the estate to individual beneficiaries or to a trustee. |
| Statutory commissions and expenses paid by an estate that are allocable to services performed by the estate representatives after the decedent's death and that are incurred for the purpose of distribution of trust assets under a decedent's will and settling the estate are deductible as administration expenses under Sec. |
| Thus, although these expenses may be legitimately incurred by the executor, state law treats the operation of a business (and the expenses incurred) as an activity distinctly separate and apart from the normal administration of the estate. |
| Operating Expenses (4325 words) |
| A "no-rail" operating expense per passenger-mile figure is estimated, and is used to examine the annual financial impact of rail operations. |
| Cumulative operating cost savings as the result of rail operation (based on a "null" or "do-nothing" alternative) was estimated based on the operating cost of an "all-bus" system for each year between 1987 and 1998. |
| Commuter-rail operating expense per vehicle-hour may appear fearsome, but are spread over a large number of miles (owing to high operating speed) and passengers (owing to large vehicle size). |
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