| RCD - 1/20/2025 21:59 Selling production when prices are desirable vs what the year is on the check received.
That has never stopped me from selling with cash accounting. If you don’t want the income, defer it. Or prepay expenses.
You’re trying to make the same point as Mirada was trying to make. Reality is you already paid the taxes on it before you actually had the income.
Cash accounting allows you to choose when to pay the taxes (to an extent). Accrual accounting FORCES you to recognize the income (and pay tax) when it is created, not when it becomes cash.
Edited by Kooiker 1/20/2025 23:03
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Inventory and taxes?
