What (who) is out-of-pocket - definition

Out-of-pocket; Out-of-pocket costs; Out-of-pocket expenses; Out-of-pocket cost

out-of-pocket

Out-of-pocket expenses are those which you pay out of your own money on behalf of someone else, and which are often paid back to you later.

ADJ: ADJ n

see also pocket

out-of-pocket expenses

n. moneys paid directly for necessary items by a contractor, trustee, executor, administrator or any person responsible to cover expenses not detailed by agreement. They may be recoverable from a defendant in a lawsuit for breach of contract; allowable for reimbursement by trustees, executors or administrators; or deductible by a landlord from a tenant's security deposit for damages beyond normal wear and tear.

Out-of-pocket expense

An out-of-pocket expense (or out-of-pocket cost, OOP) is the direct payment of money that may or may not be later reimbursed from a third-party source.

https://en.wikipedia.org/wiki/Out-of-pocket_expense

Wikipedia

Out-of-pocket expense

An out-of-pocket expense (or out-of-pocket cost, OOP) is the direct payment of money that may or may not be later reimbursed from a third-party source.

For example, when operating a vehicle, gasoline, parking fees and tolls are considered out-of-pocket expenses for a trip. Car insurance, oil changes, and interest are not, since the outlay of cash covers expenses accrued over a longer period of time. The services rendered and other in-kind expenses are not considered out-of-pocket expenses; the same goes for depreciation of capital goods or depletion.

Organizations often reimburse out-of-pocket expenses incurred on their behalf, especially expenses incurred by employees on their employers' behalf. In the United States, out-of-pocket expenses for such things as charity, medical bills, and education may be deductions on US income taxes, according to IRS regulations.

To be out of pocket is to have expended personal resources, often unexpectedly or unfairly, at the end of some enterprise.

https://en.wikipedia.org/wiki/Out-of-pocket expense

Pronunciation examples for out-of-pocket

1. out of pocket.

Lambda Legal - Representing LGBTQ Youth _ Currey Cook _ Talk at Google

2. to paying out-of-pocket.

Shrinks - the Untold Story of Psychiatry _ Jeffrey Lieberman _ Talks at Google

3. as I did, cash out of pocket.

The Points Guy _ Brian Kelly _ Talks at Google

4. Season One was entirely out of pocket.

My Career Serial Dramas _ Jane Espenson _ Talks at Google

5. It has all been out of pocket.

The Story of Chicago Hip-Hop _ Midway Production Team _ Talks at Google

Examples of use of out-of-pocket

1. Out of pocket "This has effectively left us out of pocket making it impossible to actually replace all the lost jewellery.

2. "Carriers may be able to recover legitimate out–of–pocket expenses or costs.

3. It requires $1',000 a year in out–of–pocket costs for each caregiver family.

4. However, the union will ensure the players will not be out of pocket.

5. The prizes are as described above and exclude any additional out of pocket expenses.