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Estimated taxes are quarterly tax payments made by self-employed individuals, freelancers, and businesses that don't have taxes withheld from their income. The IRS requires them to avoid underpayment penalties.

Accrued expenses are costs your business has incurred but hasn't paid for yet — and hasn't received a bill for either. They're different from accounts payable because with AP, you have an invoice in hand. With accrued expenses, you know the expense exists, but the bill hasn't arrived. They show up a

A bookkeeper is a financial professional who records, categorizes, and maintains a business's day-to-day financial transactions. They handle the operational side of your finances — entering income and expenses, reconciling bank accounts, managing accounts payable and receivable, and preparing your b

A cost incurred in the ordinary course of running a business. Deductible business expenses reduce taxable income.