Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
I am trying to understand how to make 481 adjustments. I am
I am trying to understand how to make 481 adjustments. I am in the situation that this is the first year company change from cash to accrual. … read more
Carter McBride
Carter McBride
Certified Public Accountant (CPA)
LLM
3,654 satisfied customers
C Corp switching from Cash to Accrual by choice (i.e. not
C Corp switching from Cash to Accrual by choice (i.e. not required to make the switch). We believe it is Automatic. Changing to accrual also impacted deferral of advance payments. Should we put DCN 12… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,649 satisfied customers
I am a c-corp. I use cash method of accounting. For tax
I am a c-corp. I use cash method of accounting. For tax purpose I want to recognize a lump sum payment for software development over a 3 year window of development. How do I change my method of accoun… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,649 satisfied customers
My wife and I are both salaried employees but I have a side
my wife and I are both salaried employees but I have a side business selling physical products through the Amazon platform. I started the business in late 2017 but didn't start making sales until 2018… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,025 satisfied customers
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
taxmanrog
Master's Degree
1,808 satisfied customers
In regards to IRS Form 3115: I have a client who legally
In regards ***** ***** Form 3115: I have a client who legally needed to switch from cash to accrual in 2017. In 2018, the TCJA increased the gross receipts rule to $25M. If I change this client TO acc… read more
Carter McBride
Carter McBride
Certified Public Accountant (CPA)
LLM
3,654 satisfied customers
Which DCNs should I select 122,123 or 124 on Form 3115 part
Roger,Which DCNs should I select 122,123 or 124 on Form 3115 part I line 1a?. A disregard entity in wholesale food business. in 2016, we use cash basis. this year she want to switch to accrued. The bu… read more
taxmanrog
taxmanrog
Master's Degree
1,808 satisfied customers
I have a business set up as an LLC. In Aug 2017, my client
I have a business set up as an LLC. In Aug 2017, my client (a global company) did a one year contract with me and for the service to be rendered continuously (SaaS) from aug 2017 - aug 2018.They sent … read more
Carter McBride
Carter McBride
Certified Public Accountant (CPA)
LLM
3,654 satisfied customers
I have a cash basis S Corp that needs to become accrual
I have a cash basis S Corp that needs to become accrual basis. They issue gift cards and want to defer the gift card income and must be accrual basis in order to do this. This will be a non-automatic … read more
taxmanrog
taxmanrog
Master's Degree
1,808 satisfied customers
How are advance payments treated for tax reporting? I have a
How are advance payments treated for tax reporting?I have a small manufacturing business for electronic components and modules. In general, I do not sell from inventory but manufacture on demand when … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,823 satisfied customers
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
Corporate Controller
BSBA
509 satisfied customers
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
taxmanrog
Master's Degree
1,808 satisfied customers
G, I have an S Corp that has to change from cash basis to
Hello Stephen G,I have an S Corp that has to change from cash basis to accrual basis,. The end of the fiscal year is September 30, 2016. I know that I have to submit Form 3115 Application for Change i… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,262 satisfied customers
12 Year small business partner. We are an LLC taxed as an
12 Year small business partner. We are an LLC taxed as an S corp and do aprox 3-4mil/year professional staffing services. I run the operations side of the business and my partner keeps the books/ payr… read more
PDtax
PDtax
Owner
Master's Degree
4,832 satisfied customers
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.
Sr Financial & Tax Consultant
Bachelor's Degree
7,262 satisfied customers
Tax Question: I own a business that collects money monthly
Tax Question: I own a business that collects money monthly for its services. We begin billing on the 15th of the month for the next month's services. So basically we have collected all of our January … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,823 satisfied customers
I own a production company, and a label sent a wire for 351k
I own a production company, and a label sent a wire for 351k at the end of the year for a video shooting on the 22nd of december. However, they did not spend all of the money until mid january. How ca… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,025 satisfied customers
imy accountant set my books up on a accrual basis, now i find
imy accountant set my books up on a accrual basis, now i find out i should have stayed on a cash basis. How do i switch back to a cash basis. and what is the liability if any?… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,937 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

261 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

17,888 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,659 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x