IRS Form 3115

Inventory Accounting Method Change Could Benefit Small Businesses

Inventory Accounting Method Change Could Benefit Small Businesses

Even with the new depreciation options and Qualified Business Income deduction available in the wake of recent tax reform, there are always circumstances where a taxpayer may require additional current year deductions. With the help of another element of the Tax Cuts and Jobs Act (TCJA) taking effect in 2018,

Sonya Foster2021-04-12T14:55:11-06:00June 24th, 2019|

Tax Reform Expands Availability of Cash Accounting

Tax Reform Expands Availability of Cash Accounting

Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Newly eligible businesses should determine whether the cash method would be

Sonya Foster2021-04-12T14:55:52-06:00December 18th, 2018|