Using Credit Cards for Tax Deductions

If you use your credit card to buy something for your business or to make a charitable contribution, when can you deduct the cost on your tax return? Say you buy a business computer on December 15, 2016 with your american express card but don't pay the amex bill until January. You can deduct the cost of the computer on your 2016 tax return. It is the date charged that governs not the date paid when you use a credit card.