Cash versus accrual? Buddy please.... There is only one way in which a 'person' (not entity) can do their taxes and its cash! For the love of god, can you explain to me how to do my taxes on an accrual basis? Are you sure you are a bean counter?
Accruals basis applies to large corps who carry items such as DTA's and DTL's (deferred tax liabilities and deferred tax assets) these ofsett the ITE ( income tax expense) as and when accruals/ provisions unwind, in a corporate! ( not people!)
Please elaborate on how i do my taxes via accruals methodology, as this is interesting
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