The Tax Cuts and Jobs Act (TCJA) has brought on major tax law change that impacts small businesses. The TCJA enhanced some tax breaks, repealed others and modified several deductions that are likely to affect a majority of business owners. Here’s one change.
Enhanced Cash-method accounting
Businesses with less than $25 million in gross receipts over the last three years may adopt cash-method accounting.
If you have any questions, visit with one of our Tax experts.
Published: 9-13-18
