08/31/2026
Ask your accountant what they recommend about your accounting method for long-term contracts. Then listen to the pause. Most contractors under the revenue threshold have a real choice about how they recognize contract income. Completed contract, percentage of completion, cash accrual. The choice moves when income lands sometime by a full year. It is worth more than every deduction conversation combined, and it recurs every single year.
If nobody has raised it with you, that is not because your accountant is bad. It is because contract accounting is a specialty and most firms do not carry it. Here is the part that matters. "I like my accountant" and "my accountant is producing results for me" are two different statements. The first one is about the relationship. The second one is about what showed up this year. You can like someone and still be leaving the method question on the table. So ask it. What did you recommend about my method for long-term contacts, and why?
If you get an answer, good. That is one less thing to worry about.
If you get a pause, you learned something.
Contractors: has anyone every brought this up with you?
