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Question
If I received a giftcard for my birthday and I bought business supplies with it, is the price of the business supplies tax deductible?
AI accountant’s answer:
Absolutely! It doesn’t matter if the purchase is made with a personal account or card, any funds spent on business supplies qualify as a deduction. Since the transaction won’t show up on your bank statement, be sure to hang on to the receipt so that the transaction isn’t forgotten at tax-time.

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Answer
Absolutely! It doesn’t matter if the purchase is made with a personal account or card, any funds spent on business supplies qualify as a deduction. Since the transaction won’t show up on your bank statement, be sure to hang on to the receipt so that the transaction isn’t forgotten at tax-time.

No answer given yet!

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