CONTACT US
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Wes Parker, EA, CAA
AW Parker, P.C.
7990 Trinity Road, Suite 110
Cordova, TN 38018
Phone: 901-794-3528
Fax: 901-794-8354
Email: wes@awparker.com
If your average annual gross receipts were $30 million or less in the three previous tax years, you can choose either a cash or accrual method of accounting in 2024. In 2023, the limit was an average of $29 million or less.
You must use the accrual method if your gross receipts exceed that threshold. For more information about the advantages and disadvantages of each method, speak with your tax professional or see IRS Publication 538 – Accounting Periods and Methods.
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AW Parker, P.C. and LTM Client Marketing are unrelated companies. This guide was created by LTM Client Marketing and was not written or created by the named financial professional and does not necessarily represent the views and opinions of Avantax Wealth Management® or its subsidiaries.
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