Definition
Prepaid income tax (such as that deducted from dividend payment) that can be offset against the total income tax payable by an entity.
Business Tips
Keep Receipts if You Itemize Your Deductions
Keep all of your receipts and keep a good record of all of your expenses as they occur. If you do, you will be less likely to skip or miss out on allowable tax deductions and tax credits and it will m ... Read more
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