If you’re like me, you don’t always have your business checkbook or business credit card with you when you’re buying items for the business.

So you end up using your personal checking account or personal credit cards to buy office supplies, postage, or other business expenses. 

Unfortunately, it’s easy to forget about these business expenses when you’re calculating your profit/loss or preparing your tax return, which can cost you money at tax time.

To keep track of business expenses paid from personal funds, I’ve created a simple worksheet which I attach to a 9×13 envelope. 

I write the date, description and amount of each purchase/expense on this worksheet, then place the receipt in the envelope. 

This envelope then goes in my business tax/bookkeeping folder.

When it’s time to prepare my taxes, I pull these folders out and include these expenses on my tax return.  This way I never miss a tax deduction!

Download business_expense_worksheet.pdf

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