Expense Question

[jonv001]

Hello!

I purchased a professional certification for my business in 2021. The total price was about $1698 and I made a payment plan. Would that full price count as an expense for 2021 even though it was a loan, or would the total sum of the payments made toward the principal be determined as the expense for 2021?

Thank you very much! 

[DavidD66]

You can deduct the entire amount as a 2021 business expense. You can deduct the interest you pay on the financing as you pay it.