Tax Accounting Methods
a powerful yet underutilized benefit available to a small and medium-sized business is choosing the correct accounting method.
Typically with small and medium-sized businesses, the choice of Accounting Method is an afterthought. This is a mistake when starting your business and a missed opportunity to not review for existing businesses.
The initial decision of which accounting method to choose can have a lasting impact on cash flow and tax planning opportunities that fit your business.
With an existing business, changing an accounting method is often only utilized by large multi-million dollar businesses as the application of the law is complex and expertise by the CPA Firm is required. We offer that expertise to our clients who are the small and medium-sized business. Changing from Cash to Accrual or Accrual to Cash, or to no longer maintaining an inventory balance are among the accounting method change tools available. Our team is here to help.