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Tax Law Means Big Accounting Changes for Small Business Owners

from CPA Practice Advisor

When it comes to accounting for income and expenses, most small business owners want to K.I.S.S. (Keep It Simple, Stupid). Not surprisingly, many are embracing the reforms recently created by the Tax Cuts and Jobs Act. Notably, the TCJA opens up the cash accounting method, the simplest approach, to more small businesses. more

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