The IRS allows you to calculate your tax bill using one of two tax accounting methods. The more common of the two methods for individual taxpayers is the cash method. However, most businesses prepare ...

Expenses are an unavoidable cost of doing -- and staying in -- business. When a business incurs an expense, there are two accounting methods it may use to record the expense to its books -- the cash ...

Many contractors can build better cash flow using accounting options that until passage of the Tax Cuts and Jobs Act (TCJA) were unavailable to them. Nevertheless, there remains a surprising number of ...

Although small business taxpayers usually prefer to use the cash method of accounting, some, for whom considerations of accelerating deductions weigh paramount, might prefer to use the accrual method ...

F or many years, the IRS clashed over the cash method of accounting with small business taxpayers who provided services as the mainstay of their business but who were categorized as inventory ...

In what may be the final chapter in an ongoing battle over the availability of the cash method of accounting to small business owners, the Internal Revenue Service has now released Rev. Proc. 2002-28.

Understanding the various types of accounting methods is crucial for any business or individual looking to manage their ...

Most farmers naturally assume they can use the cash method of accounting. Under this method, a farmer reports sales as they receive cash and are allowed to deduct expenses as they are paid. There are ...

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

Recent legislative proposals have accountants stepping up to make clear which accounting method they prefer -- and it's cash, by a long shot. A number of groups testified or submitted statements on ...