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Get your taxes done using TurboTax
If you just keep track of your income as you get it and spend it, then you would select Cash accounting method. This is the most common method of accounting. And since, you say you didn't do anything accounting, this would be the method you would select. Accrual accounting would require you to count the income when you earn it instead of when you receive it. This is not a typical method of accounting for individuals.
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‎February 28, 2024
10:39 AM