I work remotely in Nevada as an animator for my fulltime job with a studio located in California. However, I recently did a short term contract job remotely for a studio in the UK. I've done business with them multiple times with no issues. I get paid via the online site Wise.com (formerly known as TransferWise.com).
I sent an invoice to them to pay $560.00 USD. However due to exchange rates (I think), the amount I ended up receiving was $562.12 USD. I informed them of the extra few dollars and cents, but they didn't really respond to me about it (It feels like they don't really mind giving me the extra few dollars).
My question is do I therefore count my income as the $562.12 that they gave me, or $560.00? I'm pretty sure it would be any actual money I get vs what I billed them for, but want to check for future information.
Thanks!
You'll need to sign in or create an account to connect with an expert.
Yes, you will count your income as the actual amount you received: $562.12.
Yes, you will count your income as the actual amount you received: $562.12.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
danielclucas1
New Member
w-lapontoon51
New Member
jlbrill130
New Member
tax20252
New Member
kevgold2012
New Member