cash flow

These resources provide ideas from other business and marketing experts. They are not required reading for this session.

Internal Revenue Service (IRS)

The IRS offers free information to help you understand the tax laws. Click on each link and choose to read online or  save to your computer. These and other resources can be found at

Locate an Accountant

Taxes Prepared Online

In this session you will learn about:

  • Cash and profits
  • Cash flow and cash balance
  • How your legal setup can affect your taxes
  • How a calendar year or fiscal year can affect your taxes
  • Types of business expenses to deduct from taxes
  • Online resources for tax questions


Critical content is cash flow and understanding the difference between cash and profits. This is vital.


Cash: Normally means banknotes and coins, as in paying in cash. The term is used in a business plan to represent the bank balance, or current account balance.

Cash Flow:  Cash coming into and flowing out of a business over a period of time.

Profit: Start with sales, subtract all costs of sales and all expenses; that equals profit before tax. Subtract tax to get net profit.