timing

Projecting your business income and expenses for this year and next can allow you to time when you recognize income and incur deductible expenses to your tax advantage. Typically, it’s better to defer tax. This might end up being especially true this year, if tax reform legislation is signed into law. Timing strategies for businesses Here are two timing strategies that can help businesses defer taxes: 1. Defer income to next year. If your business uses the cash method of accounting,