Home > Glossary > T > Tax Deductible Expense
Illustration

Tax Deductible Expense

A tax-deductible expense is a cost that can be subtracted from a company’s taxable income, reducing its tax liability. Examples include rent, salaries, utilities, and business travel. Proper classification and documentation of these expenses ensure tax compliance and help businesses lower their overall tax burden.

More Items

Treasury Stock

Treasury stock refers to a company’s own shares that were issued and later repurchased from shareholders. These shares are held…

Turnover

Turnover refers to the total revenue generated by a business during a given period. In some regions, it’s used interchangeably…

Temporary Account

Temporary accounts track financial activity for a specific period and are closed at period-end. Examples include revenue, expense, and dividend…