Accounting Method:

• Legal advising for Cash method versus accrual method and when each method is permissible and desired;
• Use of hybrid method of accounting;
• Legal help correcting incorrect initial choice of tax accounting year;
• Constructive receipt and when items are recognized as income under the cash method;
• Revising contracts to prevent constructive receipt of cash;
• Federal tax litigation on constructive receipt, as well as deposits not income and disbursements allowed as expenses under the Cohan case;
• Federal tax litigation on contract labor expenses paid in cash and required deduction under Cohan case;
• Constructive payment and when items are recognized as an expense under the cash method;
• All events test and recognizing income under the accrual method;
• Items of doubtful collectability and accrual method;
• Theft loss analysis;
• Determining amount of deduction with reasonable accuracy, and ascertaining economic performance for deductions under the accrual method of accounting.
• Gardner Law Firm in Tyler and Richardson is available for legal tax consultations and can serve as your tax attorney.