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S Corp election to cash for 2018 looking for example of
S Corp election to cash for 2018 looking for example of 481(b) 2017 three year language … read more
Carter McBride
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Lane, I have a client that received a substantial advance
Good morning Lane, I have a client that received a substantial advance deposit in the first year of the C corporation business in the year 2017. The client is in import and trade business and is plann… read more
taxmanrog
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I am in the process of changing a Sub-S Corporation from the
I am in the process of changing a Sub-S Corporation from the accrual basis of reporting the tax return to the cash basis. Per form 3115 there is a 481 (a) adjustment for the beginning of the year A/R … read more
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I need to make a cash to accrual adjustment for tax
I need to make a cash to accrual adjustment for tax reporting on an 1120S. I went through and have my cash to accrual difference at the start of the year 1/1/17 of $160k (AR of $180k and AP of $20k). … read more
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Our S-corp 3 year average gross receipts will exceed the $10
Our S-corp 3 year average gross receipts will exceed the $10 million thershold in 2017. I know we have to file form 3115 to change our accounting method from cash to accrual but I am unclear if that w… read more
Fred Rook
Fred Rook
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An IT servicing S corp having Rev of $8.40M in 2014, $10.6 M
An IT servicing S corp having Rev of $8.40M in 2014, $10.6 M in 2015, and $14.00M planning to file change of accounting from Cash to Accrual. Can we file 3115 for automatic change along the tax return… read more
Brian Michels
Brian Michels
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I have an S corp that has always filed cash basis tax
I have an S corp that has always filed cash basis tax returns. Currently, their average sales exceed $10m for the prior 3yrs. I believe we need to file a form 3115 to change from cash basis to accrual… read more
taxmanrog
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In making a 481a adjustment for an S Corp, how do you
in making a 481a adjustment for an S Corp, how do you account for difference in retained earnings?… read more
Dr. Fiona Chen
Dr. Fiona Chen
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C- Corporation having Calendar year ending and Cash Basis of
C- Corporation having Calendar year ending and Cash Basis of Accounting intend to change accounting method to Accrual and also change year ending from Calendar to March 31 thereby Tax return will be f… read more
Stephen G.
Stephen G.
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I am trying to figure out the correct method to calculate a
i am trying to figure out the correct method to calculate a 481 adjustment on form 3115 from changing from accrual to tax… read more
BK-CPA
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I am required to file form 3115 in cash accounting
I am required to file form 3115 for change in cash accounting basis to accrual basis of accounting i was wondering if there is an example for i can follow. Im confused as to the section 481 (a) adjust… read more
BK-CPA
BK-CPA
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If a c corporation changes accounting method from cash to accrual
If a c corporation changes accounting method from cash to accrual which creates an nol, can that loss be carried back for a refund… read more
PDtax
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I have a client who purchased an s corporation in 2011. This
I have a client who purchased an s corporation in 2011. This corporation was on the accrual basis. My client has grown the business to the point of the a/r being 40 times the a/p amounts which has cau… read more
PDtax
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When an S-Corporation switches from a Cash basis to an Accrual
When an S-Corporation switches from a Cash basis to an Accrual basis of accounting and there is a section 481 positive adjustment, will this be recognized in the year of the change or over the 3 year … read more
taxmanrog
taxmanrog
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Form 3115, Section 481(a) Adjustment: Change in Overall Method
Form 3115, Section 481(a) Adjustment: Change in Overall Method Cash to Accrual. Company has 12/31/11 year-end cash basis AR & AP balances zero and accrual basis AR balance of $34K and zero AP balance.… read more
PDtax
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Ok several questions wrapped in one. I bought a townhome in
Ok several questions wrapped in one. I bought a townhome in 2006 and have been renting it since 2007 but I have never depreciated it when filing my taxes (simply just my error) but I wish to do so thi… read more
Lev
Lev
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I am changing from Cash to Accrual for Tax purposes. The
I am changing from Cash to Accrual for Tax purposes. The difference in AR and AP at 12/31/10 was 92,000. Where do I record the postive adjustment. Can I recognize it over 4 years. How do I do that on … read more
PDtax
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The question is regarding Accounting Method Change from Cash
The question is regarding Accounting Method Change from Cash to Accrual for an S-Corp. The business is a wholesale business with inventory; which has been using the Cash Basis due to gross receipts be… read more
angelwork1111
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