Cash Method of Accounting
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Selecting a tax accounting method for your small business
Small business owners must answer an important question: Should we use the cash or accrual accounting method for federal income tax purposes? Larger entities are…
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What’s a “small business,” and why does it matter?
Although your business may seem big to you, you may wonder how the government classifies it for tax purposes. If your organization qualifies as a…
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Deferring taxes on advance payments
An advance payment is one received by a business before it provides whatever is being paid for. For federal income tax purposes, generally advance payments…
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It’s time for your small business to think about year-end tax planning
With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year and…
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Cash or accrual accounting: What’s best for tax purposes?
Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax…
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What’s the best accounting method route for business tax purposes?
Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for…
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