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Deductions & credits
There is some overlapping where I use it for my own consumption and using it to expand my business as well
Not trying to upset anyone here, but depending on your state as well as your business type and structure, just be aware that this could be considered commingling personal funds with business funds. Weather this could cause a problem in the future remains to be determined if you're ever audited or sued.
I would suggest in the future, that you do separate purchases of one grocery run for business only, and a 2nd for personal only. Makes book keeping simpler and can significantly reduce the headache of dealing with an audit should that ever happen.
‎August 22, 2023
8:29 AM
4,210 Views