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Business & farm
If you switch to the accrual method of accounting you will be required to pick up the income, pay the tax and wait on the cash. This makes no sense.
At least with the cash method of accounting you only pick up the income and pay the tax when you receive the cash.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎February 19, 2021
4:41 PM
2,353 Views