Receiving End of Year Bonus for 2023 in 2024
My employer has stated that End of Year performance bonuses will be paid in January 2024 for the 2023 year. I was hoping to claim this income in 2023, is this an option that can be done or no?
Answers
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In most cases, the income is only recognized during the year that it is paid to you, so most likely, you will not be able to claim that income until your 2024 tax return, assuming that it is paid to you during 2024.
