Organizations must be flexible to be successful in today’s rapidly changing business environment. As revenue streams, distribution channels and resource sourcing become more fluid, internal accounting systems must also change to keep pace with internal and external reporting requirements. Organizations that go through such changes often benefit from a detailed review of their tax accounting methods.

Each item of income and deduction could have multiple correct methods of accounting for income tax purposes. The aim of a tax accounting methods review is to identify the most advantageous method, while also identifying any impermissible methods that should be changed. Changing the tax method of accounting for just one item can yield significant tax benefits.

Our DHG tax professional can help you navigate the impact of a changing business environment so that you can feel confident that your accounting methods are in sync with your business goals.

Some of the areas in which our tax professionals can assist include:

  • Inventories – LIFO, FIFO and RIM
  • Fixed Asset Analysis – Capitalization, Depreciation and Cost Segregation
  • Revenue Recognition
  • Accounting for bad debts
  • Deductions such as compensation, inventory and A/R reserves
  • 263(a) – ‘Repair’ Regulation Compliance
  • Long-Term Contract Accounting
  • Leasing Transactions
  • Converting from the cash method of accounting to the accrual method, and vice versa.

Let DHG's professionals help you get the peace of mind that comes from knowing that you have the right tax accounting methods for your business.

Publications Publications
No Items.
115
0
News News
No Items.
115
0
Alerts Alerts
Tax-R&D-thumb.jpg
Navigating Designated Opportunity Zones
One of the lesser publicized provisions of The Tax Cuts and Jobs Act (the Act) provides for a new community development incentive designed to increase
Read More
A&A-Update-2018-Q2-Thumbnail.jpg
Second Quarter 2018 Accounting & Assurance Update
This quarterly A&A Update (Q2 2018) is intended as general information and should not be relied upon as being definitive or all inclusive. Throughout the
Read More
Tax-R&D-thumb.jpg
Sales Tax Nexus – Highly Anticipated Decision in Way...
In arguably the most important sales tax case in the past twenty five years, the U.S. Supreme Court has announced its highly anticipated decision in South
Read More
73
Events Events
Tax-R&D-thumb.jpg
7/26/2018 12:00 PM to 7/26/2018 1:00 PM
How Tax Reform Affects Bonus Depreciation and Cost R...
Virtual - Webinar
115
1
Blog Blog
No Items.
115
0
Case Studies Case Studies
No Items.
115
0
DHG TV DHG TV
No Items.
115
0
Name/Title Office vCard Email