Inga, an attorney, completed a job for a client in November 2021. If she bills the client
Question:
Inga, an attorney, completed a job for a client in November 2021. If she bills the client immediately, she will receive her $10,000 fee before the end of the year. By delaying the billing for a month, she will not receive the $10,000 until 2022. What factors should Inga consider in deciding whether she should delay sending the bill to the client?
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Step by Step Answer:
Inga should determine the tax cost of reporting the fee income in 2021 compared to the present value ...View the full answer
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Related Book For 
Concepts In Federal Taxation 2022
ISBN: 9780357515785
29th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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