TAX TIP TUESDAY FOR DECEMBER 11, 2018

Today’s tip is a list of last-minute tax savers for businesses: 1. Prepay expenses using the IRS safe harbor. IRS regulations contain a safe-harbor rule that allows cash-basis taxpayers to prepay and deduct qualifying expenses up to 12 months. See Treasury Regulation section 1.263(a)-4(f). 2. If you are cash basis you must generally report any […]

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