BHoffman Posted March 29, 2017 Report Posted March 29, 2017 Crap. One of my SCorp contractor clients cracked over the $10m average and I have to start reporting them on accrual and POC, so I'm going to be tackling the dreaded form 3115 and then have to keep track of the look back period. I haven't done one of these in at least 10 years. I'm scared..... Quote
Margaret CPA in OH Posted March 29, 2017 Report Posted March 29, 2017 May the force be with you! Quote
BHoffman Posted March 29, 2017 Author Report Posted March 29, 2017 Hi grandmabee - Contractors are treated differently, unfortunately. I cannot figure the 481(a) adjustment from cash to accrual to save my life and I used to do these.....ugh. I need some sleep.... Quote
Catherine Posted March 29, 2017 Report Posted March 29, 2017 You WILL get it, @BHoffman - but put this one on extension and tackle it in May! 2 Quote
BHoffman Posted March 29, 2017 Author Report Posted March 29, 2017 I'd love to except they have lenders demanding it yesterday. I think cash to accrual is pretty easy. Just basically add the 2015 Accts Receivable and subtract the 2015 Accts Payable and that's the 481a adjustment to spread out over 4 years? Quote
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