You'll need to sign in or create an account to connect with an expert.
In cash-based accounting, expenses are recorded when they are paid, not when they are incurred.
Here are some helpful links about cash basis accounting from the IRS and TurboTax:
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Newby1116
Returning Member
Squishpea123
New Member
kburdo
New Member
erin32
New Member
whmao
New Member