• 59 minutes

Accounting Method Changes Under the Tax Bill


Small business accounting method reform was one of the first big changes with the TCJA.

The Tax Cuts and Jobs Act brought about four main advantages for small businesses from tax reform, including increased availability of the cash method for accounting, no requirement to use a tax inventory method to account for inventory, no requirement to apply uniform capitalization under §263A, and no requirement to use the percentage of completion method for long term contracts. This video reviews these small business advantages, and discusses business interest expense limitation, qualified business income deduction, and income inclusion.

Runtime: 59 minutes



Selvan Boominathan

CohnReznick LLP

  • Manager in the Bethesda office of CohnReznick LLP
  • More than 12 years of experience in public accounting, public sector and law
  • Practice emphasizes all aspects of tax accounting methods, and cost recovery and leasing of tangible and intangible property
  • Member of American Bar Association Tax Section, and State Bar of California Tax Section
  • J.D. degree, University of Illinois; Master of Laws in taxation, Georgetown University Law Center
  • Can be contacted at [email protected], (301) 280-6455 or

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