Ian Bryzek, CPA
Business income received after an owner dies
Business income after an owner's death should be traced to the entity and reporting period.
A customer payment arriving after death may relate to work, invoices, or contracts from an earlier period. Deposit timing is only one part of the record.
Keep entity income separate from personal, estate, and beneficiary bank activity until the source is clear.
Keep the entity record intact
Keep entity income separate from personal, estate, and beneficiary bank activity until the source is clear.
- invoices and payment records
- bank deposits
- entity bookkeeping reports
What to gather
- invoices and payment records
- bank deposits
- entity bookkeeping reports
Who usually handles what
- Ian can organize the tax reporting questions and records for this situation.
- An estate attorney should address beneficiary rights, ownership, trust terms, and authority to act before tax conclusions are made.
A practical next step
Match each significant receipt to its source document.
Questions about title, probate authority, trust meaning, or a beneficiary's legal rights belong with an estate attorney. Start with the Professionals directory: /professionals/
Related guides
This is general tax information, not tax or legal advice. Outcomes depend on the documents, ownership, timing, and law that apply to the particular facts.