Recording income when received and expenses when paid. The default for most sole proprietors and small businesses.
Cash basis gives simple, controllable timing: paying a January bill in December moves the deduction. It also means unpaid invoices are not income yet, which is a planning lever at year end.
Yes, with a Form 3115 accounting method change. Some changes are automatic; others need IRS consent.
Last reviewed September 15, 2026. Tax rules change; confirm current law before acting.
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