I previously changed my accounting method to accrual. This is the first W2/regular employment I've had. I just have some questions.
1) So here's how I plan to calculate this. Any work weeks completely performed in 2018 but paid in 2019 I will include in 2018's taxes. Any partial week's I'll count a percentage of it on 2018 income based on how many days. Good so far?
2) Should I also be calculating accrual taxes paid (So that taxes not actually paid but owed based on 2018 income count as paid taxes)?
Also, regardless if you know the answer to 1 and 2 something else that's important:
3) Since I am filing accrual does the IRS know my W2's won't match or if I try to file online will I get a mismatch? Should I just do it by paper and include an explanation the reasoning for the mismatch is the accounting method? If so do I need to do it by paper every year?
For more details see:
https://ttlc.intuit.com/questions/4523606-i-file-my-taxes-accrual-basis-because-of-self-employment-i...
