accrual accounting requirements IRS

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Cash vs. Accrual Accounting When Does the IRS Require You to Switch
Whether you’re a contractor in Livonia, a retailer in Macomb County, or a growing startup in Oakland County, one of the most important financial decisions you’ll make is choosing the right accounting method.  Many Michigan small businesses begin with cash accounting because it’s simple. But as revenue grows, inventory expands, or financing becomes necessary, the question becomes unavoidable:  When does the...