The difference between accounting expenses and paying taxes that entrepreneurs should know

The difference between accounting expenses and paying taxes that entrepreneurs should know

In this article for Anyone who is an entrepreneur should know about the difference between accounting expenses and taxes. I would like to present the differences that entrepreneurs should know.

🔸 What are tax expenses?

Tax expenses are expenses that the business pays out. Which will have proof of payment that is correct And the law allows that expense to be deducted from income. To calculate net profit for tax purposes In addition, tax expenses are Expenses paid by the Company must not be of the nature of prohibited expenses

🔸 Prohibited Expenses

Prohibited expenses are expenses that the Revenue Department determines that cannot be used as a deduction from income in calculating profits for tax purposes. arising from the operation of the company and recorded as an expense in the current year, but shall not be used in the calculation of net profit for tax purposes.

by the nature of prohibited expenses are as follows

- Expenses that are of a personal nature not in accordance with the regulations of the business

- Expenses that are self-determined without actually being paid

- Expenses that cannot prove evidence of who is the recipient

- VAT expenses Fines, certification fees

🔸 Accounting Expenses

Accounting expenses are expenses that the company pays for goods or services with evidence of correct payment. for example Paying for the purchase of goods to be sold This expense will be counted as cost of sales, pay for accounting services. This charge will be considered as Operating expenses

How are you? I hope that this article will be useful for all readers. And see you again in the next article.

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