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Category: Tax
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I purchased an iPad For my small business use on my personal

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I purchased an iPad For my small business use on my personal best buy credit card Because I don't have a business Best Buy Credit card. How do I deduct as a business expense?
If your business files tax returns as a sole proprietorship (Schedule C) simply add it to the expenses. If you keep a full set of accounting records simply record the purchase by debiting the expense and crediting either your capital account (Schedule C) or loans payable to shareholder (1120 0r 1120S filer). The expense will then be reflected.
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