If I earn it this year, but have payment deferred until next year, does that mean I have constructive control of it? Yes.If that's true, then I wouldn't have the option of deferring it anyway?You can defer actual payment, but not income recognition for tax purposes.I have no idea of how you handle your accounts, but I'll make up an example of what I'm talking about.Your usual practice is to bill upon completion of a project with payment due upon receipt and considered timely if paid within 30 days. You complete a job on August 1, 2012 and another on December 29, 2012. You bill both of them on December 30, 2012. It's clear that the only reason you delayed billing the earlier project was to delay receipt of the income.PhilRule Your Retirement Home Fool
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