Tax Geek Teusday: When Can A Business Deduct Prepaid Expenses?

Late last week, I got an email from a young go-getter at PwC asking me to write about a certain topic for a Tax Geek Tuesday. Now normally, because I'm a miserable curmudgeon who doesn't like being ordered around, I would have told him exactly where he could stick his "idea." But this kid was pretty smart, and picked a great topic. So here goes: