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Eddy, an attorney and cash basis taxpayer, is new to the concept of tax planning...

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Accounting

Eddy, an attorney and cash basis taxpayer, is new to the concept of tax planning and recently learned of the timing strategy. To implement the timing strategy, Eddy plans to establish a new policy that allows his clients to wait up to five years to pay their attorney fees. Assume that Eddy expects his marginal tax rates to remain constant over the foreseeable future. What is wrong with this strategy

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