Periods, Methods and Credits

Deloitte Tax LLP

Are you taking full advantage of income deferral or deduction acceleration? Many companies do not use the most tax-efficient accounting methods. So they may not be leveraging opportunities to maximize cash flow. Do you know which current statutory provisions allow for income deferral or deduction acceleration? Expanded automatic consent procedures ease the process, but do you know which accounting method changes are subject to them?

If your business cannot address these issues efficiently and effectively, or if you do not have the in-house know-how to handle this task, we can help. Consider these services:

  • Comprehensive review—A review of your books and records, and interviews with tax department personnel, that reveals current accounting practices and valuable insights into your organization. These lead to new tax strategies for improving cash flow.
  • Discuss strategies—Presentation of recommended changes to your existing accounting methods and analysis of the potential benefit to your organization.
  • Compliance—Preparation of Form 3115, Application for Change in Accounting Method, as well as document filing and follow-up.