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You Can Use Your Personal Credit Card To Make Tax Deductible Business Purchases!


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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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  • Have you checked out Joe's Latest Blog?

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      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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