Rideshare Central
  • Twitter
  • Facebook
  • LinkedIn
  • Pinterest
  • Newest Posts
  • Resources
    • Driver Advice
      • New Driver Tips
      • Before You Start Driving
      • Uber Driver App Walkthrough
    • Vehicles
      • Lyft Car Requirements
      • Maven Gig Rentals
      • Lyft Rental Cars
      • Lowering Maintenence Costs
      • Best Cars For Uber & Lyft
      • Used Car Buying Tips
    • Uber & Lyft Taxes
      • Uber & Lyft Tax Deductions
      • An Accountant’s Intro To Rideshare Taxes
    • Lyft & Uber Driving Guides
      • City Driving Guides
  • Driver Promos
    • Rideshare
      • Lyft Sign Up Earnings Guarantee
      • Uber Sign Up Bonus
      • Via Driver Sign Up
    • Delivery
      • Doordash Driver / Dasher
      • Postmates Driver / Courier
      • Caviar Courier
      • Instacart Shopper
      • Uber Eats (Uber Delivery)
  • Customer Promos
  • Products
    • Dashcams
      • Best Uber & Lyft Dash Cams
      • Best Uber & Lyft Dashcams Under $100
    • Accessories
      • The Best Mileage & Expense Trackers
      • Best Phone Mounts For Uber & Lyft Drivers
  • Rideshare Insurance
    • Rideshare Insurance Guides
      • Rideshare Insurance – 50 State Database
      • Rideshare Insurance Guide For Uber & Lyft Drivers
      • State Rideshare Insurance Info
  • About
  • Contact
  • Search
  • Menu Menu
Business credit card advantages.

4 Advantages of a Business Credit Card

April 30, 2019/in Blog /by Brooke

Running a small business is tough, but having the right tools can make it easier. Whether you run a small business full time or supplement your income with the occasional side hustle, having a separate business credit card can give you a host of benefits.

If you do not already have one, there are some compelling reasons to get a separate credit card for your small business. Here are four big benefits of a business credit card.

#1 A Year-End Spending Summary Makes Tax Time Easier

One of the benefits of running a small business or being self-employed is that you can write off certain business-related expenses. Unfortunately, keeping track of those expenses can be tough, especially if you pay cash for some purchases and use your personal credit card for others.

When you open up a business credit card and charge all your purchases, you put all your spending in one place. Better yet, you can use the year-end spending summary you receive to get a jump start on your tax planning.

#2 Valuable Rewards and Perks

You spend a lot to keep your small business running, from gassing up the car before your next Uber ride to buying printer paper for your home office. When you have a business credit card, you can get points and perks for each of those purchases.

You need to buy all that stuff anyway, so why not get rewarded when you do? Just look for a business credit card that offers airline miles, gift cards and other perks that will make your life easier.

#3 More Time to Pay

When you put your business-related purchases on the plastic, you get extra time to pay. Using the card issuer’s money is an important, yet often overlooked, advantage of credit card use.

This perk only applies if you always pay your business credit card balance in full, but if you do, you can arbitrage the funds and improve your cash flow dramatically. That cash flow benefit can be extremely valuable to your small business.

#4 Keeps Your Personal and Business Expenses Separate

It is vitally important to keep your personal and business finances separate. Even if you just take on the occasional side hustle, keeping that income separate from your other earnings will make tax time easier and help you avoid problems with the IRS.

Having a separate bank account and credit card for your business activities will make this separation easier, so you can worry less and focus on serving your customers. By charging all your business-related purchases to a single card, you can avoid comingling your finances and simplify your tax preparation.

Whether you run a small business or find extra work as a freelancer, it is important to take your activities seriously. Opening a credit card for your business may seem like a simple thing, but it can make your life, and your tax planning, a lot easier.

 

Tags: driver advice, side hustles
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on Reddit
  • Share by Mail

Previous Post: Going Independent in Business: How To Secure Your Best Interests

Next Post: 10 Autonomous Vehicle Startups That Are Making Waves

copyscape
You might also like
Uber Customer Support Uber Customer Service – How Uber Riders Can Contact Uber
Wonolo vs. Shiftgig Wonolo vs. Shiftgig: Hiring Workers for Your Business
Uber driver side hustle Want a Side Hustle and a Full-Time Job? Key Things to Think About First
Washington D.C. - Lyft & Uber The Washington D.C. Lyft and Uber Driver Guide
Used car shopper on lot. Four Factors To Keep In Mind When Buying A High-Mileage Used Vehicle
Rover vs. Wag! Rover vs. Wag!: Pros & Cons of Working for Each Service
 

Popular Posts

WORK PROFITABLY - SUBSCRIBE TO OUR NEWSLETTER

Posts & Resources

People Are Reading

Sign Up Offers

  • Lyft Rider Promo
  • Lyft Driver
  • Fiverr
  • Doordash
  • Postmates
  • Instacart

Disclosure

Some of the links on this site are affiliate links. Rideshare Central may be compensated if users click on our referral or affiliate links and sign up for a service or purchase a product.

View our privacy policy.

© Copyright 2019 - Rideshare Central
  • Twitter
  • Facebook
  • LinkedIn
  • Pinterest
Scroll to top