I use my credit card for business. I want to be able to claim the yearly amount in my taxes. Is there a way?

can I claim the annual business amount on my taxes by getting a business credit card?

yes just dont go too mad with indulging in non business expences and try get reciepts

Yes you can but if you get greedy and writ off your personal items as work related, the IRS will eventually catch on and you will be paying it all back.

just don't get caught up like so many others do and lie to the FEDS/IRS they will find out and come after you!

The yearly amount of what?

The interest is deductible as a business expense. Late fees, over limit fees, etc. are not deductible.

Make SURE that it is used ONLY for business purposes!

Be sure to get a separate card and use it only for business. keep your receipts too, if you get audited they will ask for receipts.

I use my credit card for business. I want to be able to claim the yearly amount in my taxes. Is there a way?


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20 Responses to “I use my credit card for business. I want to be able to claim the yearly amount in my taxes. Is there a way?”

  1. brian s says:

    Late fees are not regulated, pretty much any amount can be charged. If you think you can't pay either negotiate with the contractor, or do not enter into the contract.

    As for interest rates Congress eliminated those protections in 2005, very quietly. You can check with your state's attorney general to see if California is still enforcing their own laws, Michigan sure as heck isn't.

  2. stringhimup says:

    Any time, except between June and July. I'll be back in the states for business purposes. Aside from that when ever is grand! Will you be in China this October? We'll be hosting a large climbing and outdoor festival in Laojunshan/ Liming national park. Maybe we can get you in as a volunteer or something if your interested. Till then, keep on keepin on!

  3. coldfuse says:

    The lesson learned, of course, is that a lease is never "only a formality." If you are planning on paying by the second week of the month, that should be written into the lease, even if it's just scribbled on the side.

    Landlords hate when good tenants - like folks who have been paying rent for 6 years - leave. I am sure you can work something out to stay without any late fees, but do not be afraid to turn your back and walk away.

  4. Good summary, Tim. I’ve given a couple of social media presentations to business groups — the local chamber of commerce and one at a neighboring community — and have found similar responses. But there does seem to be an eagerness to learn about how to use social media for business purposes.

  5. Lynette Shanley says:

    Eventually spoke to someone higher up who had enough sense to grasp the gravity of the situation and late fees were waved and I could go and pay another day.

  6. "you will have to sue USAA" says:

    I wrote a letter to the President and to Credit Card head that because of the USAA Bank Fraud please restore my credit card and remove the late fees and interest charges. USAA said there is no way they would or could do that, even though USAA creates or prints money out of thin air.

  7. notyouraveragebear says:

    Poor AZ - 2 greedy useless old men stealing from the public again and again and again.

  8. Amber says:

    If you found evidence, obviously there is something going on. Don't let his lies get to you. Confirm your bother's story first, if he and his gf is doing it in your car. If not, than confront your husband, because he does not need to go to his secretary's house to finish his "business purposes".

  9. Shirleeniojtf says:

    :) Can I transfer a business credit card debt to my personal card? Business Credit Card

  10. do nothing.  he has nothing to do with you.  if you like her then still talk to her but then again what do you care bc you said that you were only going to use it for business purposes.

    and shes a freshman..she only wants to have fun..she isnt serious about any1..you or her boyfriend...bc if she was she wouldnt of gave you the number.... good luck!

  11. cakoudelka says:

    RT I wish FootLocker let you rent shoes.....LLS!!!!....not late fees

  12. hiziq says:

    ΰ 2 greedy! 4 everybody @Sugafairy911 dat kiss is 4 only M̶̲̥̅Ƹ oo"

  13. notmygame says:

    cause you said it was for business purposes

  14. CrsAcvd says:

    5 Ways To Prevent Credit Card Late Fees: Paying a credit card late fee is the same as throwing your money away. ...

  15. _INKcredible says:

    U 2 greedy.u nyam already.nu gi him none yaa!heheheRT RT Finally eatin lunch! :) ««gi mi sum of what ur having

  16. Randy says:

    Is it possible to get a business credit card based off of your EIN only. I tried applying for one before and they asked for my personal info and I was declined. Any suggestions?

  17. Not so much they don't learn, more like they probably look to get products out faster for various business purposes (releasing certain amount of product in parts of the fiscal year, maintaining cash flow, etc.). When things get rushed it takes forever. I wouldn't be even surprised if they feel greater testing would only delay it. Or maybe they just don't care.

  18. quentin says:

    note: you need to have a VISA small business credit card issued to your business to be eligible. Just sayin’

  19. Marshall_Will says:

    Not at all! Do… go on. Rather they’ll spend their time ‘investigating’ some Airman Apprentice who got his car repo’d and had late fees at Redbox? Argghh, this is so frustrating!

  20. Say_Hey says:

    "Unfortunately I can't let you purchase anything with this. However, it does say here that you owe just about $5.50 in late fees. Pay up."

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