Topic Thread

S CORP.

  • 1.  S CORP.

    Posted 5 days ago
    ​​At what point does a wholesale business which is an S corp. (no inventory) has to switch from a cash basis to the accrual basis?

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    Joseph Schnitzer
    CPA
    JOSEPH SCHNITZER, CPA PC
    Woodmere NY
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  • 2.  RE: S CORP.

    Posted 5 days ago

    Under the new law (after 12-31-17) its 25,000,000 (average annual gross receipts do not exceed 25 million for the three prior tax years).

     

    The same exceptions from the required use of the accrual method still apply.

     

     

     

     

     

    Vincent J. Preto, CPA

    Senior Partner

    Wagner & Zwerman LLP

    201 Old Country Rd. Suite 202

    Melville, NY 11747

    Tel. (631) 777-1000 Ext. 340

    Fax  (631) 777-1008 

     

     

      logo-wagner-zwerman2                 <a href=image005.png@01D1E40C.9CB93920">              aicpa-member                          

     

     

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  • 3.  RE: S CORP.

    Posted 5 days ago
    ​Thank you very much.

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    Joseph Schnitzer
    CPA
    JOSEPH SCHNITZER, CPA PC
    Woodmere NY
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  • 4.  RE: S CORP.

    Posted 5 days ago
    ​Thank you.

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    Joseph Schnitzer
    CPA
    JOSEPH SCHNITZER, CPA PC
    Woodmere NY
    ------------------------------