Accounting Methods Can Save Your Bank Money

Financial Institutions

March 01, 2017
by Jessica Mac Naughton, CPA

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Jessica Mac Naughton Jessica Mac Naughton, CPA

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When was the last time you looked at your accounting methods for tax purposes as a strategy to save money?  Does this question make you ask yourself, What is an accounting method and when did I make an election for it?  Many banks do not realize that they have made an accounting method election because it is done on the first tax return, and most banks do not revisit the election as they continue to grow.  

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