BHoffman Posted March 29, 2017 Report Share Posted March 29, 2017 Crap. One of my SCorp contractor clients cracked over the $10m average and I have to start reporting them on accrual and POC, so I'm going to be tackling the dreaded form 3115 and then have to keep track of the look back period. I haven't done one of these in at least 10 years. I'm scared..... Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted March 29, 2017 Report Share Posted March 29, 2017 May the force be with you! Quote Link to comment Share on other sites More sharing options...
grandmabee Posted March 29, 2017 Report Share Posted March 29, 2017 isn't this only for C Corp? Quote Link to comment Share on other sites More sharing options...
BHoffman Posted March 29, 2017 Author Report Share Posted March 29, 2017 Hi grandmabee - Contractors are treated differently, unfortunately. I cannot figure the 481(a) adjustment from cash to accrual to save my life and I used to do these.....ugh. I need some sleep.... Quote Link to comment Share on other sites More sharing options...
Catherine Posted March 29, 2017 Report Share Posted March 29, 2017 You WILL get it, @BHoffman - but put this one on extension and tackle it in May! 2 Quote Link to comment Share on other sites More sharing options...
BHoffman Posted March 29, 2017 Author Report Share Posted March 29, 2017 I'd love to except they have lenders demanding it yesterday. I think cash to accrual is pretty easy. Just basically add the 2015 Accts Receivable and subtract the 2015 Accts Payable and that's the 481a adjustment to spread out over 4 years? Quote Link to comment Share on other sites More sharing options...
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