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Small Business Tax & Bookkeeping Blog | Zero Fluff Books
How Far Back Should Bookkeeping Catch-Up Go? Start With the Purpose, Not an Arbitrary Month Count
A bookkeeping catch-up period should be based on unfiled or inaccurate returns, opening-balance reliability, audits, financing, sale requirements, and available records—not a universal 12-, 24-, or 36-month rule.
Lauren Twitchell, EA
5 days ago2 min read
Cash vs. Accrual Accounting: Which Method Is Right, and What Form 3115 Actually Requires to Switch
Cash and accrual methods determine when income and deductions are recognized for federal tax purposes. Once a method is adopted, changing it may require Form 3115 and a Section 481(a) adjustment.
Lauren Twitchell, EA
Jul 172 min read
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