Joe is a self employed electrician who operates his business on the accrual method. this year, joe purchased a shop for his business and at year end he received a bill for $4,500 of property taxes on his shop. joe didn't pay the taxes until after year end. which of the following is a true statement?
a) if he elects to treat the taxes as a recurring item, joe can accrue and deduct $4,500 of taxes on the shop this year.
b) the taxes are a payment liability.
c) the taxes would not be deductible if joe's business was on the cash method.
d) unless joe makes an election, the taxes are not deductible this year.
e) all of these are true.
all of them make sense but, i would have to say ask someone who has been there/or lives there, and/or read recent newspapers from that city.
hope this !
answerthe above statement is (true);