Tax
Dec. 26, 2018
Is it the time of the year to start sending ‘pay me next year’ requests?
“Pay me next year” requests are common with employers, suppliers, vendors, customers and more. And this time of year, many people are asking for payment in January. They want to be paid, just not right now!
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
"Pay me next year" requests are common with employers, suppliers, vendors, customers and more. And this time of year, many people are asking for payment in January. They want to be paid, just not right now! If you (personally or your business) account for money on a cash basis like most people do, does such a request work?
You probably assume that you can't be taxed until you receive money. Yet if you have a legal right to payment but decide not to recei...
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