A Multiyear Service Agreement Is Not Automatically a Section 460 Long-Term Contract
Tax classification depends on the contracted property and activity, not simply a project crossing December.
TOPIC COLLECTION
Contract accounting
A focused reading path from The Profit Planning Journal. Start with the question closest to your situation, then review the linked sources and documentation steps.
Percentage-of-Completion Income Can Rise Before the Customer Pays the Next Milestone
Cost-to-cost reporting follows supported contract estimates rather than billing alone.
The Ten-Percent Long-Term-Contract Method Defers the Start of Recognition
The election has continuing scope and does not create a ten-percent deduction or permanent exemption.