Most businesses that rely on Inventory to run their business are required
by law to report their taxes on the Accrual method of accounting. Many of
these businesses also carry Customer Notes or Accounts Receivables. The
Accrual method mandates that you pay taxes on money you may have not
received yet. This creates a terrific burden on cash flow.
In 2000, the IRS gave some relief to these businesses. If your business
has Cash Receipts less than $1,000,000 you can convert to the Cash method
and quit paying taxes on money you have not and may never receive.
The rules for converting to the Cash method are very specific and must be
followed to the letter or your request will be rejected. Cobia has
prepared many of these conversions and all have been approved by the IRS.
The average tax savings for those we have converted is in excess
of $26,000 in real money! Why not call today and find out if you qualify
to Pay Less Taxes!