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Level 1
June 1, 2019
Question

What does the Accounting Method refer to on the Schedule C?

  • June 1, 2019
  • 1 reply
  • 1 view
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1 reply

Carl
Level 11
Level 11
June 1, 2019

Most use the cash method. That means your income is not "your" taxable income until the tax year you are paid. The accrual method means that you are claiming it as income in the tax year you bill it to the client, regardless of when they pay it.