Frequent Contributor
sccredit
Posts: 347
Registered: ‎09-14-2012
Re: What can I expense? Credit card balance, or amount I've paid towards credit card

That actually is


llecs wrote:

Right. If you haven't paid for it, you can't deduct it using the cash-basis.



 not 100% correct.  The IRS assumes that once an item is paid for on a credit card it is, at that point, paid for. 

$100,000 + NPSL Revolving Credit Lines
Credit Scores: EX 729 EQ 724 TU728