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FORUMS Post Processing, Marketing & Presenting Photos The Business of Photography 
Thread started 14 Mar 2013 (Thursday) 09:27
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What Business Credit Card do you Use?

 
memoriesoftomorrow
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Mar 15, 2013 17:58 |  #16

Mine is a personal card which I also use for business. I go with whichever gives me the most air miles with the carriers I fly with the most. Then put as much of my expenditure (both business and personal) through the card as possible paying it off in full every month.


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Luxornv
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Mar 16, 2013 01:33 |  #17

tomd wrote in post #15714564 (external link)
Unless things have changed since I last looked for a card, I would avoid Discover. They are (were ) not accepted at many places I shop.
At the very least, before committing to a Discover card, ask around at the common vendors and see if they accept Discover.
I now use Citi.

I've only encountered two places I go to with some frequency that don''t accept Discover in the Chicago area. It's fairly widely accepted now.


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HappySnapper90
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Mar 17, 2013 13:22 |  #18

Kronie wrote in post #15714065 (external link)
I use one personal card for my business. gives benefits for extended coverage on gear and other stuff, discounts for a lot of stuff I wont use. I just use it to keep track of expenses. Its easy if its all on one card.

You know, you may want to look into that. For liability purposes, that may be viewed as having a business for tax purposes. I've attended a couple of seminars by a lawyer that says if you do not keep personal and businesses expenses and financial info separate from your person ones that gives him enough to go after your personal assets if you are involved in a lawsuit because it shows your business is a "sham" for tax purposes. Get some business advice since it sounds like you are trying to benefit from businesses expenses on personal financial elements.




  
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Channel ­ One
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Mar 17, 2013 15:26 |  #19

kb9tdj wrote in post #15715297 (external link)
No credit cards here....always pay cash or don't buy.

Living like no one else thanks to DR.

How do you go about reserving and renting cars and other equipment?

Wayne


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Kronie
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Mar 17, 2013 15:58 |  #20

HappySnapper90 wrote in post #15724868 (external link)
You know, you may want to look into that. For liability purposes, that may be viewed as having a business for tax purposes. I've attended a couple of seminars by a lawyer that says if you do not keep personal and businesses expenses and financial info separate from your person ones that gives him enough to go after your personal assets if you are involved in a lawsuit because it shows your business is a "sham" for tax purposes. Get some business advice since it sounds like you are trying to benefit from businesses expenses on personal financial elements.

What, am I the only one that started and maintains my business just as a tax write off? I'm kidding or course but the tax benefits for me and the family can be nice sometimes. There is only so much stuff you can write off though in a photography business. Eventually you have to pay in but I write off everything my accountant lets me, both ethically and legally.

What you are talking about really depends on what type of business you run. (sole proprietor, LLC, corp) Mixing your financials is never a good idea whatever business type you have. I am sole proprietor and in my state, which is Vermont, it doesn't matter how I separate by business expenses or liabilities. If someone goes after me in a lawsuit they can sue me for everything I have. BUT I have lots of liability insurance, so the damages would need to be over 2 Million, then they could go after me and my personal finances. I still separate my business and personal with business accounts but there isn't anything unethical or illegal with using a personal card for business use. Believe me I have checked.

Whether or not a business is a sham for tax purposes or not has absolutely nothing to do with the liability your talking about. There is or course some audit liability there I guess.




  
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kb9tdj
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Mar 17, 2013 19:58 |  #21

Channel One wrote in post #15725266 (external link)
How do you go about reserving and renting cars and other equipment?

Wayne

Debit card.


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rincon
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Mar 18, 2013 10:33 |  #22

I use the Visa/debit card that is associated to my business account.




  
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jra
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Mar 20, 2013 14:04 |  #23

kb9tdj wrote in post #15715297 (external link)
No credit cards here....always pay cash or don't buy.

Living like no one else thanks to DR.

+1 A debit card and separate bank account for your business make it just as easy to track everything....actually easier because your bank account will give you the "incoming" and "outgoing" all in one stop.




  
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kb9tdj
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Mar 20, 2013 14:43 |  #24

Yep, that's exactly how I have it set up.

jra wrote in post #15736535 (external link)
+1 A debit card and separate bank account for your business make it just as easy to track everything....actually easier because your bank account will give you the "incoming" and "outgoing" all in one stop.


Scott
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Bryan ­ Jonathan
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Mar 20, 2013 15:31 |  #25

My business will never have a credit card.


Bryan Jonathan Weddings - Wedding Photographer - Duluth, MN (external link)

  
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ed ­ rader
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Mar 20, 2013 15:48 |  #26

HiepBuiPhotography wrote in post #15714049 (external link)
Hey Guys. I'm thinking about getting a Business Card through Discover to help keep track of my expenses. Do you guys use a dedicated credit card for your business? If so, which one and why? What are the benefits? Please share! :D

i use a B of A Alaskan Airlines visa card. i get one air mile per dollar spent and i use the air miles for travel. the card is linked to my business checking account for overdraft protection.


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gh ­ patriot
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Mar 20, 2013 19:48 |  #27

Business Debit card linked to business checking. Cash for everything because in my opinion in this line of work, if you can't pay cash you probably shouldn't buy it mostly because folks don't have the discipline to pay off the card every month.

This video sums it up. http://www.nbc.com …eo/dont-buy-stuff/n12020/ (external link)


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Kronie
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Mar 20, 2013 20:34 |  #28

gh patriot wrote in post #15737701 (external link)
Business Debit card linked to business checking. Cash for everything because in my opinion in this line of work, if you can't pay cash you probably shouldn't buy it mostly because folks don't have the discipline to pay off the card every month.

This video sums it up. http://www.nbc.com …eo/dont-buy-stuff/n12020/ (external link)

What makes this line of work any different than any other business? If easy credit wasn't available for small businesses, there would be 60% less small businesses out there. Businesses run on easy credit. Pay cash for everything? Sorry, that maybe worked in the 1950's....Not anymore.




  
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gh ­ patriot
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Mar 20, 2013 21:05 |  #29

Kronie wrote in post #15737852 (external link)
What makes this line of work any different than any other business? If easy credit wasn't available for small businesses, there would be 60% less small businesses out there. Businesses run on easy credit. Pay cash for everything? Sorry, that maybe worked in the 1950's....Not anymore.


I have over 25k of gear... cash. doesn't work?


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gh ­ patriot
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Mar 20, 2013 21:08 |  #30

gh patriot wrote in post #15737956 (external link)
I have over 25k of gear... cash. doesn't work?

My boss at my day job. Cash. In business 30 years. Last employer... cash. I have a friend in construction and he pays cash for everthing. He is about to buy a used skytrak for 18k. He will write a check. Bla bla bla.


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What Business Credit Card do you Use?
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