Small business: If I pay December advertising expenses Jan 2008, can I use Dec ad expenses for 2007 taxes?

Monday, August 30th, 2010 at 10:22 pm

I would use same method every year.

Tagged with: 2007 • 2008 • Advertising • Business • December • expenses • Small • taxes

Filed under: Small Business Advertising

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yooperjer says:

August 30, 2010 at 11:08 pm

If this is your first year of business then you could use the accrual method of accounting and do that. If you are a cash basis taxpayer then the answer would be to deduct the expenses in the year you pay the bill.
bettyrubleinspurs says:

August 30, 2010 at 11:42 pm

Nope! What is paid in 2007, stays in 2007.

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