My S Corporation prepaid rent into my family limited partnership a year in advance; I thought this would be okay, that it would just be counted as extra income for the year, but my accountant is nervous and thinks that rental income cannot be paid in advance and must be suspended until next year.
Tax Practice/Corporation
Log in to view this resource
Not Yet a Member?
Join The McGill Advisory with a money-back guarantee
Learn More JoinStart Your Free 45-Day Trial Membership
Begin increasing your wealth—by saving on taxes, boosting practice profit, conserving what you earn, and ensuring a successful retirement.
Your 45-day free trial entitles you to an 8-page monthly newsletter, plus unlimited online 24/7 access to hundreds of tax reduction, practice management, wealth protection, and retirement planning solutions. No obligation, no credit card.
Free 45-Day Trial MembershipThe McGill Advisory content Is provided For informational purposes only And does Not constitute legal, accounting, Or other professional advice.
Copyright © 2025 John K. McGill & Company, Inc.
Similar Resources
Tax | Practice/Corporation
New IRS Ruling Creates More Flexible Options For Staff Benefits
Read ArticleCard Security Code
The card verification value is an important security feature for credit card transactions on the internet.
MasterCard, Visa and Discover credit cards have a 3 digit code printed on the back of the card while American Express cards have a 4 digit code printed on the front side of the card above the card number.
Visa, MasterCard & Discover
American Express
