as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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deducting business expenses paid for by gift card
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to quote the answer you linked to: perhaps the simplest way to think about this is you can only deduct an expense that you actually incur. in other words, the expense should show up on a bank or cc statement. so, if your business purchased the $1000 gift card for $800, you should see a $800 charge appearing on a business cc or bank statement. you would therefore be able to deduct the $800, but not the full $1000 of items that you purchase with it. side notes:
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