Question
Please address the following: Charlies Green Lawn Care is a cash basis taxpayer. Charlie Adams, the sole proprietor, is considering delaying some of his December
Please address the following:
Charlies Green Lawn Care is a cash basis taxpayer. Charlie Adams, the sole proprietor, is considering delaying some of his December 2016 customer billings for lawn care into the next year. In addition, he is thinking about paying some of the bills in late December 2016, which he would ordinarily pay in January 2017. This way, Charlie claims, he will have less income and more expenses, thereby paying less tax! Is Charlies way of thinking acceptable?
Explain the use of the mid-quarter convention for MACRS (pronounced makers) depreciation.
Please be sure to include at least APA formatted references for your initial post. Always begin with your eText for a first source of information. This means that your eText will always be included as a reference in each initial post for each discussion board this semester. Also, please be sure to reference any IRS web addresses used.
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