A Basic Guide to Tax Accounting Opportunities
Article Abstract:
Many taxpayers are unaware of tax provisions that allow for the reduction or deferral of tax liabilities. Though these methods lack the glamour of tax shelters, the results are usually certain. Generally a consistent accounting method should be followed for tax purposes, but the start of a new or separate business allows for another free choice. The cash method is not limited to small taxpayers. Accrual taxpayers often overlook deferral opportunities. The hybrid method can be used with separate and distinct businesses. LIFO can offer tax savings in periods of inflation and can include all or part of the inventory.
Publication Name: Journal of Accountancy
Subject: Law
ISSN: 0021-8448
Year: 1984
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The Purchase of an Accounting Practice: Making the Right Choice
Article Abstract:
The purchase of an accounting practice is usually done without a thorough evaluation. The purchase decision is composed of the purchaser's goals, quality and size of the practice and the objectivity of the evaluator. A point system can be used to quantify qualitative-factors. Developing a body of knowledge from surveys to evaluation models would help accountants in purchasing decisions. Exhibits are included.
Publication Name: Journal of Accountancy
Subject: Law
ISSN: 0021-8448
Year: 1984
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