If your business uses accrual basis of accounting, you can defer (put off) money received for services to be performed until the next tax year. However, if you use cash basis accounting and are paid for services in November that won’t be performed until the upcoming year, this income must be claimed
Do I have to claim Income for a service I have not performed yet?
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Keeping the Books NE isn’t just about balancing numbers or categorizing expenses. We dig deep to help clients understand what’s really happening in their business. We analyze trends, identify red flags, and give clear, actionable insights that help business owners make informed decisions with confidence.
Over the years, we’ve helped startups, growing companies, and seasoned entrepreneurs across New England take back control of their finances—without the overwhelm.