Member
Posts: 23
Registered: ‎05-06-2012
Re: What can I expense? Credit card balance, or amount I've paid towards credit card

Thanks Ilecs!

 

I forgot to mention, we are on a cash accounting basis.


As far as some things being partially personal and not able to be expensed fully -- we had that scenario before, but since it was always paid in full I just deducted the % that was business.  I'd do the same with this, too.  However, my main question is, if I don't pay the full balance of my business credit card by the end of 2012, it would technically "carry over" into being a 2013 expenses, correct?  I can't techically "expense" business credit card expenses that haven't been paid yet (as in, I haven't paid the credit card balance fully).

 

Hope this makes sense, it's kind of a funky thing to explain.