Best Practices for Tax Income & Expense Recognition 2024

Overview

Understand timing issues under Federal income tax law to maximize client benefits. Review historical antecedents, including US Supreme Court cases and Federal tax rules regarding the timing of income and expenditures. Learn how cash and accrual accounting methods increasingly mirror one another for Federal income tax purposes. Study underutilized planning opportunities to defer income or take advantage of the small business taxpayer exemption. Benefit from the hands-on approach to Code and Regulation sections, revenue procedures and court cases.