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Cash method taxpayers do not get to take advantage of "matching principles". They must report income when received. Matching principles only apply to accrual
by rprasad 14y ago
Cash method taxpayers do not get to take advantage of "matching principles". They must report income when received.
Matching principles only apply to accrual method taxpayers, who may record invoices or liabilities separately from the actual payment or receipt of payment.
- mediascreen 14y agoSorry, it really didn't occur to me that people who raised that much money would not have a business, but maybe it's more common than I thought.