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Tip of the Day

Tip of the Day Be Aware of Other Deductions

Be Aware of Other Deductions - As part of filing your income tax you need to educate yourself as far as what deductions are allowable. Each year the government...

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In the Red

In the Red – “In the Red” is the opposite of “In the Black”.  This term refers to any business venture that is considered to be a loss or not profitable.  A company often states that they are in the red when their revenue is exceeded by their costs, thereby showing that they are losing money.  In the accounting profession, any amount that is negative or any debt or liability listed on the accounting balance sheet used to be denoted in red ink, hence the origin of this now mainstream phrase.

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Definition of the Day Scholarship

Definition: A monetary award, usually based on either academic merit or financial need (or both), that can be applied to...

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