How to claim this on taxes?

Discussion in 'Business Operations' started by grass_cuttin_fool, Apr 9, 2005.

  1. grass_cuttin_fool

    grass_cuttin_fool LawnSite Gold Member
    Posts: 3,503

    Ok guys and gals, with the price of fuel on the rise I am thinking about using a Shell credit card for my fuel purchases. Here is my Question and keep in mind theese figures are made up prices. I purchase $2000 of fuel for my mowers this year and with this Shell card I get 5% back which comes to $100.
    I have reciepts for $2000 but on the books it shows up as $1900, do you all that do this now claim the $100 and put it in your pocket or show it as income. And if you claim it on your books, do you show it as a mow or what?
  2. packerbacker

    packerbacker LawnSite Bronze Member
    Posts: 1,433

    If you purchase it you claim it. I dont think getting cash back needs to be claimed on anything unless its a substanial amount.
  3. MacLawnCo

    MacLawnCo LawnSite Bronze Member
    Posts: 1,847

    I think we both know the answer. You only claim what you actually pay for. I get 5% back, but it shows up as a 5% credit on my bill so I really never pay for that portion. Makes sense?

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