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Selecting a tax accounting method for your small business
July 8, 2026
Categories: Accounting, Small business
Small business owners must answer an important question: Should we use the cash or accrual accounting method for federal income tax purposes? Larger entities are required to use the accrual method. But certain small businesses can elect to use the cash method. You may want to consider this option if it will help lower your taxes. However, it’s not right (or even available) for every situation. Does your business qualify for the cash method? Under Internal Revenue Code Section


