Sentences with phrase «exclusively for business expenses»

As long as you use your business credit card exclusively for business expenses, the interest and purchases are tax - deductible.

Be Wary of Using Your Personal Credit Cards for Business While entrepreneurs may be used to the commingling of personal and business funds -; especially in the start - up phase -; the trend of using a personal credit card exclusively for business expenses to take advantage of the CARD Act should not be undertaken lightly, Testa cautions.

Not exact matches

If you can demonstrate to the IRS that at least a portion of your home — whether you're a homeowner or renter — is used exclusively for business purposes, you're allowed to take a tax deduction for certain home expenses.

Keep in mind, even if you also conduct business at another location, you can still deduct the expenses associated with the portion of your home that's used exclusively and regularly for business.

The Internal Revenue Service allows certain home expenses to be deducted in proportion to the part of the home being used exclusively for business purposes.

According to a recent Tower Group report, over 2/3 of small businesses use a credit card for expenses but only 40 % of companies use a business card exclusively.

Expenses for business use of your home: You qualify for this deduction if you use part of your home regularly and exclusively for your business.

«A truly good POS system — or a POS - based Pet Store Management System — shouldn't be viewed as an expense,» says Mark Kann, vice president of sales for Comp - Ware Systems, Inc., which works exclusively with businesses in the pet and feed industry.

The estate tax was never meant to exclusively raise revenue for federal expenses; rather, it was created to also prevent a few super wealthy families from simply inheriting every property or business in America ad infinitum.

The IRS allows you to deduct the percentage of total dwelling space that you use exclusively for your business as a business expense.

If you regularly and exclusively use part of your home to perform administrative or managerial activities for your business, you can claim a home office deduction for a portion of your expenses related to utilities, rent or mortgage interest, and cleaning.