tax accounting
Definition
The method of accounting that focuses on tax issues; this includes all activities related to filing tax returns and planning for future tax obligations. US tax accounting was established by Title 26 of the Internal Revenue Code.
Use tax accounting in a sentence
“ XYZ utilizes straight line depreciation with respect to its fixed assets for financial accounting purposes but an accelerated method for its tax accounting. ”
“ I specialize in tax accounting, so as much as I would love to help you set up your LLC, I'm more qualified to help you plan your taxes once it's already set up. ”
“ Sam was studying for his CPA test and was worried because he did not feel that his skills with tax accounting were up to par and he needed to further his studies especially with corporate tax issues. ”
