Baker Tilly tax professionals work with you to establish the tax period and accounting method that benefits your business and financial needs. How and when you choose to report income and expenses can have an impact on cash flow because these choices determine to what extent you can use income deferral or expense acceleration to reduce taxes.
The specialists on our tax team have the knowledge and experience to advise you. We are familiar with cash, accrual, and specialized accounting methods, such as percentage of completion and completed contract, and various inventory accounting methods. We also can review your current choice of period and method to determine whether it is advantageous to make a change.
Baker Tilly services in this area include:
Helping new and established businesses choose the best tax year and accounting method
Reviewing the tax-efficiency of existing inventory accounting methods
Assisting with filing Form 3115, Application for Change in Accounting Method
Advising companies on expense acceleration, income deferral, and depreciation techniques
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