A small-business owner contracts a painting company to paint her building. The small-business owner gives the painting

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A small-business owner contracts a painting company to paint her building. The small-business owner gives the painting company a $2,000 down payment against the total contract price of $10,000. The painting company starts the job in November of year 1 and completes the job in January of year 2. How will the small-business owner deduct this expense, given that she is a cash method taxpayer?

Posted Date: Nov 28, 2021 01:00 PM

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A small-business owner contracts a painting company to paint her building. The small-business owner gives the painting

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Answer i Under cash method expenses and in... View the full answer

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