I work for start-up company and we have been approved of a significant amount of R&D credit for the employer payroll portion of social security that will be refund quarterly by IRS through end of 2018. what is the best way to record this in our books to show this credit? thank you!
What is the best way to record R&D credit refund expected to through the end of 2018?
Answers
Accrued Payroll Tax Refund - since you should know the approx credit per month
either Other Income or Payroll Tax Credit Revenue
When you get paid, make the appropriate adjustments.
Filed Under:
Accounting