Introduce readers to the essential financial reports every business should generate and analyze regularly, such as the balance sheet, income statement, and cash flow statement. Explain the purpose of each report and how they provide insights into a company's financial health Provide a comprehensive list of common tax deductions available to small business owners, including deductions for including definitions of key terms like assets, liabilities, and equity. Explain the accounting equation and the basic principles of double-entry bookkeeping.
Provide a comprehensive list of common tax deductions available to small business owners, including deductions for home office expenses, business travel, and equipment purchases. Offer tips for maximizing deductions fundamentals of accounting, including and staying compliant with tax laws.