Business & farm


@VolvoGirl wrote:

Where does it say by credit card is the same as cash?


That is fairly well settled (see the link below). Rev. Rul. 78-39

 

https://bradfordtaxinstitute.com/Endnotes/Rev_Rul_78-39.pdf

 

Essentially, it is the same as taking out a loan from your bank and then using some, or all, of the principal to pay business expenses.