Quote:
Originally Posted by L-Pink
Technically it's when the money is earned not when it's deposited.
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Isn't it actually based on the date on the check? (unless you use "accrual" accounting)
so if you earn $$ in December 2010, but check isn't sent out till January 2011, it actually counts as being paid out in 2011, and so it counts as income for 2011?
but if it's paid out on December 31st 2010, you don't receive the check till January 5th 2011, that counts as being paid out in 2010 and so it counts as income for 2010?