This is a follow up question to Income - Taxed on check date written or date deposited?
I'm going to give a theoretical situation that has the possibly of becoming reality for me at the end of this year (2017)
This year I've moved some investments for which I'm going to have to pay 15% capital gains on IF I have a taxable income over 37k. I'm able to get below 37k as of now but I'm slated to receive a 13k check at the END of december which will put me over 37k. I'm trying to decide if I can legally get away with marking the income as 2018 income or if I need to have a plan to have my LLC spend that money before 2018. I'm not looking to do anything shady, I merely want to make sure I'm getting the best out of the situation.
Need to know info
- I live in NY and the LLC's PO Box is in UT 1600 miles away (I moved after the creation of the LLC and business is still done through UT)
- I have employed someone to retrieve the mail at the beginning of every month and deposit checks to a nearby bank branch.
I plan to talk to the company in question to see if they can cut the check in 2018. Let's theorize that they cannot for whatever reason: What are my limitations for being able to claim the income in 2018?
- I assume if there were any flag by the IRS I would have to prove my case. - If I could show a post-marked receipt of Jan 2nd for a check cut on December 30th I can see this issue being resolved rather simply.
- If I receive the check on the 15th and my employee won't pick it up until the 1st I can see the IRS taking issue with this as I could have had them pick the check up earlier. This is murky, I'd err on the safe side