The IRS allows you to calculate your tax bill using one of two tax accounting methods. The more common of the two methods for individual taxpayers is the cash method. However, most businesses prepare ...

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Many contractors can build better cash flow using accounting options that until passage of the Tax Cuts and Jobs Act (TCJA) were unavailable to them. Nevertheless, there remains a surprising number of ...

Accrual accounting is one of the primary accounting methods and is based on the matching principle, which dictates that revenues and their associated expenses be recorded in the same accounting period ...

Owning your own business is about doing the one thing you love to do, and 99 other things you dislike but must do, according to Roger Harris, president and chief operating officer of Padgett Business ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

Although small business taxpayers usually prefer to use the cash method of accounting, some, for whom considerations of accelerating deductions weigh paramount, might prefer to use the accrual method ...

Recent legislative proposals have accountants stepping up to make clear which accounting method they prefer -- and it's cash, by a long shot. A number of groups testified or submitted statements on ...

Owners and managers of storage companies face numerous challenges when it comes to planning and operating these facilities. One decision that can have far-reaching implications involves the selection ...