Discussion:% of Completion method of accounting/Entertainment Industry
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Discussion Forum Index --> Tax Questions --> % of Completion method of accounting/Entertainment Industry
| 23 July 2007 | |
| Hi All,
I have a client who is entering into a big publishing deal and is receiving an advance payment for production expenses and future royalties. Can % of completion be used to report the income? Are there any other possible ways to deffer recognition of full amount in one year? Thank very much for any help. | |
| 24 July 2007 | |
| I doubt this Rev. Proc. will apply, but you might want to read it anyway. | |
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