Menu

Accounting Methods and Periods

Is your company taking advantage of the most tax-efficient accounting methods available?

Implementing optimized accounting methods helps to maximize cash flow, manage effective tax rates and mitigate IRS examinations. Are you following the current guidance regarding income deferral or deduction acceleration? The IRS continues to expand the availability of automatic consent procedures, which eases the process of changing current accounting methods.

If your business cannot address these issues efficiently and effectively, or if you do not have the internal resources to handle this task, RSM can assist. We offer:

  • Comprehensive reviews. Detailed analysis of your books, records and tax returns, as well as interviews with tax department personnel, can reveal current accounting practices and allow us to offer valuable insights into your organization. This can lead to more tax-efficient methods for improving cash flow, managing effective tax rates, mitigating past noncompliance or even managing expiring net operating losses. Learn more about our accounting methods review
  • Strategic analysis and discussion. Our team can recommend changes to your existing accounting methods and analyze the potential benefits to your organization. We can work with your team and company leadership to adopt the desired changes.  
  • Compliance. Method changes are both strategic and tactical. Our accounting methods specialists can prepare the required forms, implement the new methods, file documents and follow up as necessary. 

Our accounting methods team works closely with professionals from our credits and incentives and tangible property services teams to realize optimal benefits for clients.


Related Insights

Court held exploratory research expenses were not deductible

TAX ALERT

Court held exploratory research expenses were not deductible

Tax court held that an electrical engineer was not carrying on a trade or business and could not deduct exploratory research expenditures.

Cash method landfill owner can deduct estimated future cleanup costs

TAX ALERT

Cash method landfill owner can deduct estimated future cleanup costs

Tax Court rules that landfill owners that use the cash basis method can deduct estimated future cleanup costs under section 468.

INSIGHT ARTICLE

More improvement categories bring more confusion and more opportunity

Confusion around the specific treatment of qualified improvement property could lead to lost opportunities for tax savings.

INSIGHT ARTICLE

Don’t leave money on the table in ESOP transactions

S corporations owned 100 percent by ESOPs are tax-exempt entities so proper planning prior to a transaction allows permanent tax savings.

Exorcise your ghost assets: Stop paying unnecessary property tax

INSIGHT ARTICLE

Exorcise your ghost assets: Stop paying unnecessary property tax

Fully-depreciated fixed assets can haunt your property taxes for years. Identify and fully dispense ghost assets to avoid excess taxation.

Receive our tax newsletters by Email

Subscribe


How can we help you with your tax planning & compliance?



UPCOMING RSM TAX EVENTS

LIVE WEBCAST

2017 legislative changes: State tax matters

  • September 26, 2017

LIVE WEBCAST

Retirement plan issues and insights

  • November 02, 2017