Question
Alex, the company president, went to a conference on tax planning.Alex learned that if the company could put off showing expenses until next year when
Alex, the company president, went to a conference on tax planning.Alex learned that if the company could put off showing expenses until next year when a new tax law takes effect, the company could save taxes.Alex called in the company accountant, Riley, and told her to forget about making any adjustments for salaries in the old year so more expenses shown in the new year under the new tax laws.Riley told the president that putting off these expenses would not follow generally accepted accounting procedures.Alex said Riley should do it anyway.You make the call.
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