Simple Recordkeeping: No Business Checking Account Required

Hi June,

I was poking around on the web for information and I found your book and your site. I just ordered your book, but I have an immediate question. I'm a self-employed sole proprietor. My business is video production and editing. I am about to invest in a computer and editing software so that I can edit at home. My husband is eligible for a discount on the computer and the software - I am not. If he buys the computer and the software, and then I in turn write him a check and buy it from him - will I be able to claim the computer and the software as my business expense?

Thanks in advance for your advice.
Stefani, Elizabeth City, North Carolina

P.S. You happen to live in my favorite place - Santa Fe. I lived in NM for a few years as a child and have never gotten it out of my system. I still have fond memories of my last trip there a few years ago and my visit to Ten Thousand Waves.



Hello Stephani,

Your husband can buy the computer, or spend money on any other business expenses for you and they will be deductible as your business expenses. You do not need to reimburse him. You don't even need separate checking accounts. You will see why when you read my book.

It's all a lot more simple than most folks think. And a lot more simple than most accountants will lead you to believe.

And, on your P.S. I feel the same way about Santa Fe. We came. We saw, We loved it. We're here forever. And here's a little weird thing, well, sort of. I married my first husband in front of a justice of the peace in Elizabeth City, North Carolina. He was an actor. Civil rights was a hot topic. Ah, yes, I remember it well.

Cheers,
June