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Why is the Income on My K-1 Different from the Cash I Received?

Why is the Income on My K-1 Different from the Cash I Received?

by Todd Schanel, CFA, CPA, CFP® | Dec 18, 2020 | S Corporation, Small Business, Tax Advice

Making the switch from employee to business owner requires some getting used to. One of those adjustments is understanding the difference between the income reported on a K-1 and the amount of cash distributions received. Let’s look at some of the reasons why this...

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