My partner has a small business ( $12000 last year selling on an online marketplace). we have a storage unit for her backstock, but it made more sense for me to pay because I have a more consistent income. Our plan was for her to claim it on her business taxes. Did we make a big mistake?
Posted by andrewthemighty
1 Comment
So it was a non-taxable gift from you to her and then a corresponding deductible business expense for her?