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Submitted 401 days ago...

Cameron

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Accual or Cash method of accounting

Can you file s-corp tax return using cash method accounting even when you have gross revenue that is over 5 mil?

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Submitted 401 days ago...

jreberry

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Yes, i have a S-corporation as well, but we use the accrual method.

Because you are a s-corporation, i believe you don't have this $5 million limitation, and if your revenue is higher, you still can use the cash method for tax purposes.

If you were a regular C-corporation, you would have to switch to the accrual method in the tax year your gross revenue exceeds $5 million.

I'm not an accountant, so you may want to check with a local CPA.

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