Re: What can I expense? Credit card balance, or amount I've paid towards credit card
10-03-2012 10:07 PM
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.