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Business Credit Card – Taxes
If I sign up for a business credit card with my “side business”, how does this play into filing taxes? Will the credit card company check my taxes on my side business?
Welcome [USER=6212]@Jason1992[/USER] – do you have a business ID or are you just using your SSN as the business ID? If the latter, then they won’t have anything to check – just be honest filling out the paperwork. I have a “side business” that’s really more a volunteer effort and recently put $0 as my business income and was approved so amount of income for the business is not necessarily a factor.
Thank you for the response! This is super helpful. Would it be problematic if my business income was $0, but I was putting spending on the card? If I wanted additional business cards down the road, do you think I could get approved for additional cards even if business income is very low?
I signed up a friend as an “employee” of my business and had no trouble getting a card for her. I got this card primarily for the sign-up bonus and the employee card gave me an extra 10K AA miles. So it may depend on your card issuer but I don’t think you’ll have a problem. I’ve had an Ink card for a number of years and mostly just use for things where I get 5x points and haven’t had a problem.