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I have an LLC company. I am the sole proprietor and only one

in the business. Can I use...
I have an LLC company. I am the sole proprietor and only one in the business.

Can I use personal credit cards for business transactions? All do they have to be done on the business credit cards to be able to be tax deducted or expensed?

Thanks
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Answered in 1 minute by:
11/17/2013
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,246
Experience: 15years with H & R Block. Divisional leader, Instructor
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Robin D. :

Hello and thanks for trusting me to help you today. I am a tax adviser with over 15 years of experience.
You can use your personal credit cards and still deduct the expense but it is generally best if you separate your personal and business. The tracking of the expenses would be easier on you.

Robin D. :

Just make sure that you have adequate records for the expenses.

Robin D. :

My goal is to give you excellent service. If you are satisfied, please rate me. If you have follow-up questions on this same topic, use the reply box below. To start a new conversation with me on a new topic request me again.

Customer:

Thank you!

Customer:

In regards XXXXX XXXXX Are credit card statements enough?

Customer:

Also what are a list of general things I can claim? Meals?

Robin D. :

You should retain the reciepts themselves as well.

Robin D. :

Meals are subject to are you away from home over night or are these business meals that you are spending on clients?

Customer:

both

Robin D. :

Then you would be allowed those, one as entertainment the other as travel expenses.

Customer:

ok great thank you!

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,246
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified
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Robin D.
Robin D.
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Category: Tax
Satisfied Customers: 16,246
16,246 Satisfied Customers
Experience: 15years with H & R Block. Divisional leader, Instructor

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