Taxes incurred are taxes that are owed but not yet paid.

For more on tax-related small business topics, we have a section devoted to law and taxes.

Bplans GlossaryBplans Glossary

At Bplans, it's our goal to make it easy for you to start and run your business. The Bplans glossary of common business terms will help you learn about key small business and entrepreneurship topics.