Cash Profit

I received a huge upfront deposit for a project that spans into next year, do I have to pay taxes on that cash immediately or when the work is done?

A large upfront deposit for a project that continues into next year can raise timing questions about when income is recognized, and the answer often depends on how the payment is structured, the accounting method being used, and whether the funds are a true advance, a retainer, or payment for work a

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