Paul E. asked
We have a 31-year-old privately held NY State C Corp that has shown a profit for 26 years. In 2015, we are trying to minimize a loss of about $70,000 on an income of $1,150,000. We want to defer certain expenses such as rent, medical expense reimbursements, and travel and entertainment expense reimbursements into next year or beyond without loaning the company money to pay these in 2015. What is the best way to handle and document this?
May 25th, 2023
Amanda O. answered
Operating on a cash basis, you can defer these expenses and keep a record of them without issuing pr...
May 25th, 2023
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