How to Tell if Your Chapter has Made a Profit in 2019

Follow this simple exercise:

  • First, refer to your chapter’s December 2018 Profit and Loss Statement as found on AAPC’s website.
    • Take note of the Total Closing Balance.
  • Now refer to your chapter’s October 2019 Profit and Loss Statement
    • Take note of the Total Closing Balance.
  • If the October 2019 balance is greater than the December 2018 balance, you have made a profit so far this year.
  • If the October 2019 balance is less than the December 2018 balance, you have not made a profit so far this year.

If you’ve made a profit so far, remember that you still have the months of November and December to spend the balance down so you avoid a tax liability.

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