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Book Record

Do I record book to tax differences on my book financial statements?

My accountant was doing my 2008 tax returns and has come up with adjusting journal entries based on using accelerated depreciation for tax, when I use straight line for my books. Do I have to record these entries on my 2008 financials?

No. That is why they are called TAX DIFFERENCES. Tax does not allow straight-line, but GAAP does. These will be reconciling differences between your tax return and financial statements. No action is required on the financial statements

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