4 ms·
If it was with a single card there probably isn't enough expense to go over the standard deduction.
by thealfreds 4y ago
If it was with a single card there probably isn't enough expense to go over the standard deduction.
- teraflop 4y agoYour ability to deduct business expenses using Schedule C has nothing to do with the standard deduction. (And if you don't treat it as a business expense, you probably can't deduct it no matter what.)
- projektfu 4y agoThat's not how that works. For business expenses you put business income against expenses on schedule C. Only the net income is considered for taxes. Many people think they need to do something special to have a business but you don't. However, it can be a good idea to create a free EIN for the business and maintain real books (using ledger, for example, or by hand) and a separate checking account.