Discussion:Accrual cost
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| Revision as of 17:03, 7 June 2006 PM (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 17:58, 7 June 2006 Foxttron (Talk | contribs) (If, and only if,) Next diff → |
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| {{ForumNewPost|UserID=PM|Date=7 June 2006|Text=How long I can keep accrual cost (bonus, commission) in the books after year end? Can I keep more than six month? Company is a c-corp.}} | {{ForumNewPost|UserID=PM|Date=7 June 2006|Text=How long I can keep accrual cost (bonus, commission) in the books after year end? Can I keep more than six month? Company is a c-corp.}} | ||
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| + | {{ForumReplyPost|UserID=Foxttron|Date=7 June 2006|Text=If, and only if, with the first return you include a Sec 461 H 3 election with teh 1120, you can expense bonus and all payroll cost in the prior year if they are paid by 3/15. For other expenses (some) you may have time until 9/15. However, you need to flex those accounts with the PY balances to get the correct M1 (or M3)}} | ||
Revision as of 17:58, 7 June 2006
Discussion Forum Index --> Tax Questions --> Accrual cost
| 7 June 2006 | |
| How long I can keep accrual cost (bonus, commission) in the books after year end? Can I keep more than six month? Company is a c-corp. | |
| 7 June 2006 | |
| If, and only if, with the first return you include a Sec 461 H 3 election with teh 1120, you can expense bonus and all payroll cost in the prior year if they are paid by 3/15. For other expenses (some) you may have time until 9/15. However, you need to flex those accounts with the PY balances to get the correct M1 (or M3) | |
