Glossary
Tax deductible
A tax-deductible expense is one you subtract from your profit before working out tax, within your country's rules.
What it means for a shop owner
Not every expense is accepted, and it usually must be for the business and backed by a document. Keep your receipts. Ask your accountant what is accepted where you are.
A worked example
Your profit is 20000 and an accepted expense is 4000, so tax is worked out on 16000.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes