What is Accounting?
Accounting can be defined as the preparation and examination of financial records which reveal profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity.
Other important definitions:
Tax deduction- Deducting an expense from taxable income on your tax return.
Tax Credit- an amount of money that can be offset against a tax liability (not taxable income).
Accurate record keeping, tax compliance and growth monitoring to make informed decisions.
Wills, retirement accounts, strategies, tax challenges and a lot more.
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What you need to know about Essential Business Accounting
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