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Tax Accounting Methods

Tax accounting methods relate to the timing of including an income or expense item. 

Is your Company using the most advantageous tax accounting methods? Is your Company using proper tax accounting methods? 

A thorough review of your accounting methods can reveal sound opportunities to defer the recognition of revenue or accelerate deductions, and ensure that your accounting methods are proper. By taking steps to correct improper tax accounting methods, you may be able to obtain “audit protection” for prior years in the event of an IRS examination or eliminate the need for tax reserves related to “uncertain tax positions” (formerly FIN 48).

Our Tax Group can assist you with revenue or expense issues such as the following:

  • Advance payments
  • Deferral of sales revenue
  • Disputed receivables
  • Income Items
  • Nonaccrual experience method

In terms of deduction items, there are areas to explore as well:

  • Accrued bonuses
  • Bad debt expenses
  • Depreciation
  • Fixed asset analysis
  • Meals & Entertainment Analysis
  • Prepaid expenses
  • Sales incentives/rebate reserves
  • Software development costs

Our Tax Group can help your company maximize cash-tax benefits by helping you establish and maintain optimal tax accounting methods.

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Paul Dougherty

Paul Dougherty, EisnerAmper Tax Partner and Partner-in-Charge of the Philadelphia practice, has dedicated much of his career to building and enhancing a specialized expertise in corporate taxation, high net worth individuals and IRS controversy.

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