Posted by JHyre in Ohio on December 29, 2001 at 08:47:54:
See the discussion at http://www.creonline.com/mobilehomes/wwwboard4/messages/11280.html. Be sure to link to last year’s discussion on the issue…the new threshhold of $10M is greater than the old threshhold of $1M.
IRS Eases Rules On Accounting Methods? - Posted by Dave(WI)
Posted by Dave(WI) on December 28, 2001 at 21:56:23:
I recently read an article in the Chicago Tribune which states that IRS Commissioner Charles Rossotti said companies with sales of less than $10 million can use the simplified cash method of accounting rather than the more costly and time consuming accural basis. This change is effective for the 20001 tax year.
I’ve been doing Lonnie Deals and am wondering if this change could allow me to use the cash method?