Solved: Can I deduct business expenses if paid for with personal income?

Can I deduct business expenses if paid for with personal income?

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Yes, you are able to deduct these business expenses, regardless of the source of the payments.

Note: For bookkeeping purposes, the funds that you paid from your personal income are considered to be capital contributions or loans to your business.

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Yes, you are able to deduct these business expenses, regardless of the source of the payments.

Note: For bookkeeping purposes, the funds that you paid from your personal income are considered to be capital contributions or loans to your business.