Expense Future Payments As Cash

Credit Card Charges

 

All charges made to your credit cards before year end to pay business expenses may be deducted as current year expenses, although the payments may be made in the following year. In addition, all checks written and dated in current year, but cashed in the future regarding current year tax related item can be deducted as current tax year expenses.

 

Tax Tip: You may consider taking advantage of this option in consultation with your tax adviser.

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