Accounting Byte Posted July 1 Share Posted July 1 Phantom tax meaning refers to a tax obligation on income that has not yet been received. This situation often arises in partnerships or investments where income is earned but not distributed. For instance, an individual may owe taxes on their share of profits, even if they haven't received the money. Understanding phantom tax meaning is crucial for managing financial expectations and tax planning effectively, ensuring you're prepared for any tax liabilities even when the income isn't immediately available. Quote Link to comment Share on other sites More sharing options...
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