By Mark Johnson
Do you ever worry that if the credit card you’re using to make business purchases isn’t in your business name that you won’t be allowed to take the deductions?
The good news is, that’s not the case—even if you have a separate entity!
This doesn’t mean you should mix personal and business expenses.
When you take a personal credit card and use it entirely for business expenses, you are essentially contributing this debt to your business.
You can use the card the same as if it was in the company’s name and deduct every business expense you purchase on it.
This can be a great strategy, just like with auto loans, when the company is new because it’s harder for new companies to get lines of credit without an established credit history.
So if you’ve got a personal credit card available for business expenses, feel free to use that card and benefit from all of the rewards!
To learn more please call 1954-324-0803 or book an appointment at https://calendly.com/markjohnsontaxplanner/45min
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Google search rolled out an update that now shows a website's favicon next to the search results on desktop, which started on mobile in May.
Interesting read: https://www.androidcentral.com/google-search-results-desktop-now-include-favicons
What you need to know
Google is making some changes to the way search results are shown on the desktop. Starting this week, search results will be displayed alongside icons for the websites they link to. The redesign was propagated to mobile devices last year.
The Massachusetts Right to Repair Coalition today announced it has turned in 102,000 signatures to ensure an initiative petition to enact an update to the Commonwealth’s Right to Repair law before it reaches the 2020 ballot. The Coalition – a group of Massachusetts independent repair shops, auto parts stores, trade associations, consumers, and drivers – said that a lack of progress on an update to the law in the Legislature led them to pursue an initiative petition so that Massachusetts car owners will continue to have access to the repair and diagnostic mechanical information produced by the vehicle they own.
By 2020, advancements in vehicle technology and increasing restrictions by automakers will result in more than 90% of new cars being equipped to transmit real-time diagnostic and repair information wirelessly to vehicle manufacturers, which could threatening Massachusetts consumers’ rights to choose to get their cars fixed at trusted independent repair shops or do the work themselves.
The Massachusetts Right to Repair Coalition supports bipartisan legislation filed in January by 12 State Representatives and two State Senators to update the Commonwealth’s Right to Repair law. The bills generated 55 co-sponsors, and if the bill is enacted into law by the legislature in 2020 it would eliminate the need for the ballot question to proceed.
“We need to update the Right to Repair law before wireless technologies remove the car owner’s right to get their vehicle repaired at our local, independent shop because the automaker would rather steer them toward one of their more expensive dealers,” said Alan Saks of Dorchester Tire Service. “This is a common-sense reform and we’d love to see the Legislature move forward and fix it so that we don’t have to go to the ballot to protect consumers’ rights to shop around for car repairs.”
Said Massachusetts Right to Repair Coalition Director Tommy Hickey, “Independent repair shops across Massachusetts are proud to reach this milestone of more than 100,000 signatures. Our independent shops are increasingly facing the prospect of having limited or no access to diagnostic and repair information now that automakers are restricting access through rapidly expanding wireless technologies in vehicles not covered under current law.”
The ballot initiative would give car owners access only to the diagnostic and repair data generated by their car, and they could opt to provide access to any dealer, repair shop, or automaker that they choose during the lifetime of their car.
The Coalition delivered its signatures to Secretary of State William Galvin’s office on Tuesday and Wednesday. The initiative petition filed is entitled An Initiative Law to Enhance, Update and Protect the 2013 Motor Vehicle Right to Repair Law. The key provision of the initiative is as follows:
Commencing in model year 2022 and thereafter a manufacturer of motor vehicles sold in the Commonwealth, including heavy duty vehicles having a gross vehicle weight rating of more than 14,000 pounds, that utilizes a telematics system shall be required to equip such vehicles with an inter-operable, standardized and open access platform across all of the manufacturer’s makes and models. Such platform shall be capable of securely communicating all mechanical data emanating directly from the motor vehicle via direct data connection to the platform. Such platform shall be directly accessible by the owner of the vehicle through a mobile-based application and, upon the authorization of the vehicle owner, all mechanical data shall be directly accessible by an independent repair facility or a class 1 dealer licensed pursuant to section 58 of chapter 140 limited to the time to complete the repair or for a period of time agreed to by the vehicle owner for the purposes of maintaining, diagnosing and repairing the motor vehicle. Access shall include the ability to send commands to in-vehicle components if needed for purposes of maintenance, diagnostics and repair.
The Massachusetts Right to Repair Coalition now has more than 4,000 members statewide. In addition to independent repair shops and Massachusetts auto parts stores, members of the Coalition include the Alliance of Automotive Service Providers of Massachusetts (AASP-MA) and the New England Tire and Service Association (NETSA). Further information may be found at massrighttorepair.org
Who likes tax deductible food? 🙋♂🙋♂ If you want to make sure you are deducting all of your business meals. Please read the entire article.