March 29, 2022
Construction Executive published an article by Tax Partner James Lundy and Senior Manager Michael Varnell, about choosing the right methods of accounting to optimize tax strategies.
Construction Executive
By James Lundy, Partner, Tax & Business Services & Michael Varnell, Senior Manager, Tax & Business Services
Excerpt:
Many contractors follow the financial statement method of accrual and, as a result, miss tax planning opportunities available by deferring revenue recognition under other tax methods of account. By routinely reviewing their contract portfolios and any new contracts, contractors can ensure they are using the optimal tax methods and maximize tax deferral strategies.
