I have a new business that will have inventory but generate less than $25M in gross receipts.  The new tax law seems to say that the business can report on the cash method of accounting if gross receipts are less than $25M, as long as inventory isn't deducted.  Are businesses with under $25M in gross receipts with inventory now allowed to file using cash basis as long as they don't deduct the inventory and the inventory is shown on the balance sheet? Or are they still required to file on accrual basis?