Re: What can I expense? Credit card balance, or amount I've paid towards credit card
10-08-2012 11:31 AM
That actually is
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.
Autos Loans $49.5k/$60k
Unsecured Lines $157.2k
Discover FICO 732
DCU FICO 718