By LedgerMapz Tax & Accounting Engineering Team • Reviewed against official CBIC / FTA / IRS rules • Back to Knowledge Hub
While many early-stage US LLCs file federal taxes on a Cash basis (if average annual gross receipts are under the IRC Section 448(c) threshold), institutional investors and lenders require US GAAP Accrual financial statements with Accounts Receivable, Accounts Payable, and Deferred Revenue properly recognized.
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