Here's what you should know about income tax, what it is, how it works, how to calculate it and which states don't have it.

An income statement is your business’s bottom line: your total revenue from sales minus all of your costs. Financial data is always at the back of the business plan, but that doesn’t mean it’s any ...

Start by looking at cash flow from operations, the section that tells you how much money the company’s main business is actually generating. If that number is positive and growing over time, it’s ...

Revenue and income are also prominent fixtures in tax forms filed with the IRS, as well as in company strategies for minimizing tax liability incurred from year to year. Accurate income reporting ...

The provision for income taxes on an income statement is the amount of income taxes a company estimates it will pay in a given year. The company's final tax bill may be slightly more or less than the ...

Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...

For individuals, your gross income is the total amount of earned income that you can find on your paycheque before any taxes and deductions are taken off. It considers all sources of income from your ...

Vipul Bansal is a seasoned finance professional with over ten years of experience in investment banking and capital markets. Deutsche Bank. Financial statements play a crucial role in evaluating a ...

Forbes contributors publish independent expert analyses and insights. Melissa Houston covers financial issues that affect women in business. How often do you read the profit and loss statement for ...