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Tax Reform Updates To The Cash Method Of Accounting

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Webinar: ID# 1036654
Recorded CD or On-Demand
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About This Course:
Gain a better understanding of the benefits of converting to the Cash method of Accounting if the income thresholds are met and important provisions that deserve review and consideration.

Many businesses and business owners have been focusing on the recent Tax Act's effects on tax rates and net income. Many of the more important provisions that deserve review and consideration are those affecting tax accounting for contracts, inventories and the benefits for smaller businesses to switch to the cash method of accounting.

For businesses with qualifying gross receipts of $25,000,000 or less (indexed for inflation) and for those who advise such businesses, obtaining a better understanding of the benefits of the cash method can provide substantial fiscal benefits.What You'll Learn:
  • You will be able to discuss at a basic level the benefits of switching from Percentage of Completion Method to the Completed Contract Method
  • You will be able to describe the requirement of GAAP and Tax return conformity required by the Tax Act
  • You will be able to describe the procedure required to convert from the Accrual to Cash basis of Accounting
  • You will be able to identify when to consider switching
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Tax Reform Updates To The Cash Method Of Accounting
or via CD or On-Demand
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Course Details
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