REG 4

Question 1

3 Exceptions to when C Corps can use Cash Method:

Answer 1

Farming, PSC, and business that does not exceed 26 million in gross receipts in past 3 years

Question 2

SE tax does not apply to:

Answer 2

Less than $400, or unearned income

Question 3

For disabled expenses, do you subtract the improved value of home?

Answer 3

Yes

Question 4

For charity donations of Property:

Answer 4

Use lesser of FMV or adjusted basis