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Simply put, a company’s gross profit is the profit it makes after deducting the costs directly associated with making its products or providing its services. This acronym stands for “cost of goods sold” and refers to all expenses that you can fully and directly attribute to the production of goods sold by a company.
For example, if your tax deductions are too different from other businesses with your NAICS code, the IRS may audit you. One way to get around this is to look for financing companies that specialize in providing funding to businesses in your particular industry.
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