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2018 Tax Law: Cash Method of Accounting

More companies are now able to use the cash method of accounting, thanks to the Dec. 2017 tax package. Under the old law, C corporations with average gross receipts of $5 million or more over the previous three tax years weren’t able to use the cash method. The new tax legislation raises the threshold to $25 million, which will allow many more C corporations to use the cash method instead of having to use the more complex accrual method. This same easing also applies to partnerships and LLCs that have C corporations as owners.

By | 2020-08-18T17:23:59+00:00 September 5th, 2018|Uncategorized|0 Comments

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