BUSINESS expenses

[Kaitlyn]

Okay, so I know this says PERSONAL finance, but I had a question...

I am self-employed and have my business registered. I have a business cheqing account, but put just about everything on my personal credit card. Get all my rewards in one place. Less bills to pay. etc...

So, why should I really get a separate business CC?

[BobW]

There really isn't much reason if you are a single person company. It does help keep expenses seperate between you personally and business wise, but in this day and age, it isn't such a big deal as long as you can PROVE that what you purchased on your personal card was for business purposes.

[Drew_W]

There is a separate business forum for business related questions.


In short, you don't have to. Annotate your credit card statement with what's personal and what's business, and pay the respective portions from the respective bank accounts and you're fine. Taking good notes when you calculate how much to pay from which account is key if you get audited at some point.

[ktkn]

Depending on your type of credit card, you may (if you want) get a credit card that "shares" points with your personal account. Its a good way to seperate the two and you may still consolidate all your points. You may also give this card to an employee and they earn points for you if you have this sorta thing for expenses.

I have the rbc avion, and I know they do that, but I believe a lot of credit card companies offer a similar business product.