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 ...

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 ...

Owners and managers of storage companies face numerous challenges when it comes to planning and operating these facilities. One decision that can have far-reaching implications involves the selection ...

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

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 ...

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.

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 ...

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.

July 21, 2004 - In an effort to lessen the accounting burden faced by small businesses, Senator Olympia J. Snowe, chair of the Senate Committee on Small Business and Entrepreneurship, introduced a ...

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 ...

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 ...