Advantages and Disadvantages of GAAP vs Tax-Basis Accounting

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What Is GAAP?
What Is Tax-Basis Accounting?
Comparing Tax-Basis vs GAAP
Similarities
Differences
GAAP vs Tax-Basis Reporting
Pros and Cons of Tax-Basis Accounting
How to Know Which Is Best for Your Business
The Takeaway
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Frequently Asked Questions
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About the Author
Lauren Ward is a personal finance expert with nearly a decade of experience writing online content. Her work has appeared on websites such as MSN, Time, and Bankrate. Lauren writes on a variety of personal finance topics for SoFi, including credit and banking.
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