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| Yes very true. Sand, do you use cash for taxes? I keep accrual records for projections and p&l. I file cash mostly because my cpa really pushed for that. It does offer more flexibility to spread out income but sometimes I think that benefit gets overstated. My tax bracket rarely changes because we have other income sources that tend to be more stable.
Also, cash requires folks to be mindful of the deferred tax obligation for next year's planning coming off a good year. Yet another reason to keep strong working capital. | |
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General economy
