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Expenses
Expense is a costs incurred by a business to generate revenue. These include rent, salaries, utilities, and materials. Expenses are recorded on the income statement and reduce net profit. They’re typically categorized into operating, non-operating, fixed, variable, and administrative for better cost management.
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Excise Duty (Australia)
A tax levied on specific goods manufactured or produced in Australia, such as alcohol, tobacco, and fuel.
Employment Allowance
A UK relief allowing eligible employers to reduce their annual National Insurance liability by a set amount.
Estimated Tax Penalty
An IRS penalty applied when a US taxpayer underpays estimated taxes throughout the year.
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