Dictionary
Dictionary
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Accrual Taxes
Definition
Taxes that are levied and paid on a periodic basis, such as quarterly or annually.
Using the term Accrual Taxes :
Companies are individuals are not subject to the withholding tax code (i.e. where the government takes an amount before you get net amount) then that individual or business is responsible for making regular installment payments of taxes, on an accrual basis.
Pay Special Attention To :
Ensure you know the estimated amount of taxes due and that you pay in a timely and accurate manner. Most tax systems have penalties for late payments or if you pay too far below the amount owed (you usually have leeway within - 10 to 15%.
Rate this definition:
Related terms
accounting risk
