I issued an invoice for consultant work completed for Dec 2024 on December 20, 2024. I don't get paid until the following month so I received payment Jan 31, 2025 and then paid 30% for taxes to CRA. Can I claim that tax payment as it was related to 2024 income? The same would go for the associated HST that I had to pay at the time.
You will report that income for 2025 rather than 2024 since the payment was received in that year.
Thank you for choosing TurboTax.
Catherine_crouch
New Member
leahhelenn
New Member
marlenechase1
New Member
lisoliso
New Member
ddawe
New Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.