Hi
the company director bought a phone for $1000 under his name, but this phone is 100% for company business use.
how do we deduct the phone expenses? can we deduct it as company expense or we have to deduct it from his personal tax return ?
thanks
Hello @Helen6
If the director paid for the phone using their own money, they need to claim the deduction in their individual tax return, unless the company has reimbursed them. If the company has reimbursed the director, the company can claim a deduction.
You can find more information below:
Hello @Helen6
If the director paid for the phone using their own money, they need to claim the deduction in their individual tax return, unless the company has reimbursed them. If the company has reimbursed the director, the company can claim a deduction.
You can find more information below:
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