Tax Bussiness Question

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  • boneprone
    Hall Of Fame
    • Jan 2001
    • 34415

    #1

    Tax Bussiness Question

    Hey, Im doing my taxes now, and have a question about write-ofs..

    Say for instance I am writing of telephone bills for the office. I have a telephone bill
    that is for December usage. but as you know we get the bill for things like this the following month, in this case I recived my phone bill for December use, on January 5th. So I pay the bill January 5th 2001.. So is this a write off for January 2001, since this is when I pay the bill and this is the invoice date is? Or is it used for a 2000 write off since the usage is itemized for the phone calls and bill for December 2000?


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  • Gemini
    Confirmed User
    • Jan 2001
    • 7183

    #2
    I believe its for 2000 since that is when the services were used. We always do it that way (well the acct does)
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    • MrBrian
      Confirmed User
      • Mar 2001
      • 1215

      #3
      you dont go by the bill, but buy the payment

      if you wrote the check in jan 2001 then its 2001...if you wrote the check in jan 2001 and put a december 2000 date on the check then its a 2000 issue for your taxes

      at least this is what i have been told by my accountant...
      ICQ #971-2561

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      • Rip
        Confirmed User
        • Jan 2001
        • 1456

        #4
        If you want to over lap expenses in the future, Write the cheque in December, put it in an envelope and don't mail it until January
        ...

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        • Mikey
          Confirmed User
          • Jan 2001
          • 665

          #5
          Should have dated the check Dec. 31.

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