Business, 10.04.2020 21:54 desikayla2013
Joe is a self-employed electrician who operates his business on the accrual method. This year Joe purchased a shop for his business, and for the first time at year-end he received a bill for $4,500 of property taxes on his shop. Joe didn't pay the taxes until after year-end but prior to filing his tax return. Which of the following is a true statement?A. If the elects to treat the taxes as a recurring item, joe can accrue and deduct $4,500 of taxes on the shop this year B. The taxes are a payment liability C. The taxes would not be deductible if Joe's business was on the cash method D. Unless joe makes an election, the tax ages are not deductible this year E. All the choices are true
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Joe is a self-employed electrician who operates his business on the accrual method. This year Joe pu...
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