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Do you get taxed based on work date or payment date?

Discussion in 'Trucker Taxes and Truck Financing' started by RunningAces, Aug 6, 2022.

  1. Aug 6, 2022 #1
    RunningAces

    RunningAces Road Train Member

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    If I drop off a load on 12/28/21 and send in the paperwork but the broker doesn't send a check until 1/28/22 would that payment be part of my 2021 taxes or my 2022 taxes?
     
    RunningAces, Aug 6, 2022
    RunningAces, Aug 6, 2022
    #1
    D.Tibbitt Thanks this.
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  3. Aug 6, 2022 #2
    kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

    10,006
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    Jan 13, 2013
    SW Arkansas
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    2022
     
    kemosabi49, Aug 6, 2022
    kemosabi49, Aug 6, 2022
    #2
    D.Tibbitt, Opus, RunningAces and 1 other person Thank this.
  4. Aug 6, 2022 #3
    RunningAces

    RunningAces Road Train Member

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    That's what I was thinking. Thank you!
     
    RunningAces, Aug 6, 2022
    RunningAces, Aug 6, 2022
    #3
    Accidental Trucker Thanks this.
  5. Aug 7, 2022 #4
    Accidental Trucker

    Accidental Trucker Road Train Member

    3,087
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    For you, 99.99% chance it's 2022, but the complete answer is:

    2022 if you are using cash accounting
    2021 if you are using accrual accounting.
     
    Accidental Trucker, Aug 7, 2022
    Accidental Trucker, Aug 7, 2022
    #4
    RockinChair and RunningAces Thank this.
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