Published in Last Word
An aggressive grassroots program led by ACEC has secured the support of a majority in the House—233 Representatives—to preserve the ability of firms to use the cash method of accounting.
The Representatives signed a bipartisan letter opposing pending tax reform proposals that would limit the use of cash accounting to firms with less than $10 million in revenues and sole proprietors. This change would impose significant cash flow problems on many ACEC Member Firms because the vast majority of their costs are labor-related and must be paid before firms are paid by their clients.
A similar ACEC-sponsored letter in the Senate garnered 46 signatures.
#BusinessandTax