He is correct. If you get paid 12/30/24 for an invoice dated 1/1/2025, the income will show up in your 2025 reporting while using cash accounting. It should not...
This is what I thought. I ended up just changing the invoice dates from January 1, 2022 to December 31, 2021 for the tenants that paid early. Now my income show...
Thank you for the detailed reply. It makes sense.Am I wrong in thinking that the IRS wants me to report rental income when it is received and not when it is ear...
Thanks for the reply. What I ended up doing was just changing the date for the January 1 invoices for customers who paid early to December 31, 2021. Now their r...
Thank you for your reply. It sounds like my way of handling a rent payment from a customer who pays before the invoice date is not the correct way and maybe usi...
