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Tax reform proposal seeks limits to surveyors' use of cash accounting

from NSPS

Some surveying firms may be impacted by a comprehensive tax reform bill introduced in Congress by Rep. Dave Camp (R-MI), chairman of the House Ways and Means Committee. The proposal lowers corporate tax rates, but makes offsets through various reforms, including limits on the use of cash-based accounting. When the 1986 tax reform act was before Congress, ACSM, the predecessor of NSPS, succeeded in preserving cash accounting for certain firms that are in the performance of services in the fields of health, veterinary services, law, engineering (including surveying and mapping), architecture, accounting, actuarial science, performing arts, or consulting. more

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