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- Study guides, Class notes & Summaries
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What income reporting form should an independent contractor sometimes receive from the person who paid him for his services? Form 1099-MISC (15.6)
Schedule C, Line F asks for the accounting method used in the business.
What is the difference between the cash method and the accrual method of accounting? • Under the accrual method, total sales and total charges for services are included in income even though payment may be received in another tax year.
• Under the cash method, only income a...
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