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December Billing

Discussion in 'Business Operations' started by jrblawncare, Dec 30, 2001.

  1. bruces

    bruces LawnSite Senior Member
    Messages: 648

    Mr. Fox,

    The IRS regards credit card charges (payments made by Visa, MC, AMEX, etc. to be the same as cash payments. In effect, you are taking out a loan and paying a bill.

    As a side note, this is also a valid way of making charitable contributions.

    Maybe the difference between a charge card and open accounts payable (such as an open account at your supplier) is the fact that a third party is involved.

    I do know that it is a valid "cash" payment for tax purposes.
     

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