Question: For Mac and Lise Accounting Services, LLC , how would the return be different for 2 0 2 3 if the partnership used the cash
For Mac and Lise Accounting Services, LLC how would the return be different for if the partnership used the cash method of accounting?
There would be no changes to the return data.
Schedule L would not indicate wages and payroll taxes payable.
Ordinary income would increase by this amount as would the partners' capital accounts.
Schedule M line would have an amount indicating this change.
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