Cash Vs. Accrual And Why Accounting Matters For Taxes

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Executive Summary

When you're running a small business, it may seem like deciding between cash and accrual accounting is just one more thing on the long list of things you need to get done. But the fact of the matter is the decision on which accounting method you're going to use makes a difference in something as simple as how you do your taxes and can have long-lasting effects beyond the end of the year. The cash method of accounting is the most common choice for small business owners.

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