IRS challenges "completed contract method" in court case

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ABA Tax Accounting | QuickBooks Premier: Contractors Edition | St. Paul, MN Accounting Firm

Small Business Accounting – An accounting practice known as "completed contract method" is at the heart of a Tax Court trial scheduled to begin Nov. 5. If the Internal Revenue Service wins the case, it could mean property developers would be taxed on a "percentage-of-completion" accounting method, which is less favorable to businesses. Read the full story at Reuters (10/11). Considering a Tax Professional? For no obligation free consultation contact us today!
ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200866-936-0430 Toll Freehttp://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com