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Updated almost 3 years ago on . Most recent reply

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11
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9
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Darren Love
9
Votes |
11
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Used my personal account for business expenses

Darren Love
Posted

Last summer I bought my first house hack, a 4 unit building. I know that everything is deductible, save your receipts, and keep track of your purchases.  But I have used my personal accountants to purchase items for the building, paid contractors through Zelle, and haven't been utilizing the business accountant until recently.  Can I still deduct those expenses from my taxes?

Most Popular Reply

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98
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127
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Michael H.
  • Investor
  • Kennesaw, GA
127
Votes |
98
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Michael H.
  • Investor
  • Kennesaw, GA
Replied

As long as you have receipts for what you're deducting, you should be fine. Also, keep in mind, you can put whatever you want on your taxes and it's all good until you get audited... In the future I would strongly recommend keeping your business expenses to your business account.

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