Monday, December 29, 2014

End of the Year Note on Deductible Expenses from Tom Burrus

Looking for deductible expenses before the end of the year?  Anything that is charged to your credit card counts as a deductible expense on the day it is charged, rather than the day the credit card is paid.  Some might use this to straddle the year end.

At Burrus, we don’t care what date it says on the check, we just need a postmark on or before Saturday, January 10, 2015, to receive the 9% Early Pay Savings discount.  So, if you want to date your check December 30 and not mail it for 10 days, it is ok with us, as it may be a benefit to some.  Please be aware that in order to count as a deductible expense, you must have the funds in your bank account to cover the check(s).  Thus, if you are out of cash, the credit card is another option.

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