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NW KS/ SC ID | What about Credit cards?
I bought an older tractor in November (aka an under 5K purchase), they charged a heck of a premium (15 percent) and had no cash discount, and no extra for cards, so I figured I would get some $ back with my cashback rewards Discover card, so I paid with it.
Paid in full receipt shows December, but it was on my December bill that is due and was paid Jan 2nd.
What year do I claim that tractor as an expense?
I also sold a toolbar to a guy, deal was finished in december, check made out in december, but it hasnt shown up, so I will be depositing in January. what year do I claim that income? My sister tells me I am cash basis, so I assume the answer to that question is January 2019?
Thanks for the post, your info is always very helpful! | |
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In crop talk there is thread on paying year end bills, and tax effects thereof.........
