Business, Federal Tax, Tax

A Few Days Left for Business Owners to Buy Tax-Deductible Supplies

Business owners: You still have a small handful of shopping days left to buy tax-deductible supplies. As you know, you can generally write off the ordinary and necessary costs of carrying on a trade or business. You may need items such as paper, envelopes, copier ink cartridges, staplers, breakroom supplies, binders, office chairs, and more. Buy them by December 31 to get a 2021 tax deduction. You can even charge them on a credit card and pay the bill in 2022, but still deduct them on your 2021 tax return if you make the purchases by New Year’s Eve. Contact Cg with questions. © 2021