Definition

Protecting your company against losses from accidents, theft, or other mishaps. The right coverage keeps your finances safe during unexpected events.

What to consider

  • Understand all applicable tax obligations.
  • Keep organized financial records.
  • Consult a tax professional for advice.

Real world scenarios

  • A tech firm sets aside funds monthly for quarterly business tax payments.
  • An entrepreneur tracks deductible expenses to lower taxable income.
  • A small business uses professional accounting software to prepare its annual tax return.

Related terms

Entrepreneurial Finances