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I purchased an iPad For my small business use on my personal

best buy credit card Because...
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?
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Answered in 5 minutes by:
6/12/2013
CGCPA
CGCPA, CPA
Category: Tax
Satisfied Customers: 3,820
Experience: over 40 years experience in tax matters
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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.
CGCPA
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