#tax Prompts

Prompt - Explain a Tax or Accounting Concept

Act as an accounting educator. Explain [CONCEPT, e.g. accrual vs cash accounting, depreciation, a specific deduction] in plain English for a small business owner. Cover: what it is, why it matters, a simple worked example with numbers, one common mistake, and when to involve a professional. Keep it neutral and educational, and avoid giving specific tax advice for my exact situation.