Business Deductions?

General Real Estate Investing
1

Hello all, Happy Memorial Day weekend!

I do not yet have an official business name(DBA) or business checking account but I will most likely purchase a new desktop PC over the weekend(due to all the sales) that will be used well over %50 for REI business purposes. I am meeting with a CPA next Tuesday(May 27th) and will be filing for an assumed name as well as opening a business checking account next week.

Question:

Can I deduct this as a business expense if I purchase it with personal money before I have an assumed name or bank account?

Thanks :beer

2

When you are a sole proprietor, commingling is not an issue. Yes, you can pay your business expenses with personal funds and still take a business expense.