I have an LLC (property management). Am I able to buy my next phone and pay for the monthly bill through the LLC as an expense? I use the phone primarily for the LLC and W-2 job; however, there are personal overlaps since this is my only phone.
If this is your only phone, then you can deduct only identifiable business use.
If you have a land line, then the business part of the cost of the phone and usage charges are deductible. Personal use and use for your W-2 job are not deductible. W-2 use might be deductible as an itemized deduction subject to the 2 percent limitation.
Answered by: Larry M. Carroll, CPA, is individual practitioner with Larry M. Carroll CPA PC in Blue Bell, Pa.