As the year winds down, many business owners start dreading tax preparation. If you haven’t kept up with your financial record keeping, tax time can quickly become a nightmare! Make a plan now to make your business tax preparation easier for the New Year. An easy way to simplify record keeping is to use a business credit card. The trick is to use a single card for all of your expenses.

Here are four reasons a business credit card can make business finances easier to manage:

  1. Financial Statements Created For You

Most business credit cards provide quarterly and/or annual reports that categorize your spending. If you use a credit card for all business-related purchases and expenses your tax preparation will be simple! You won’t have to search through boxes for receipts. Everything you need will be on a printout provided by your credit card company.

Some business credit cards will even give you access to generate customized reports. You can create a list of payments to a specific vendor or see payments made during a certain time period. Print your statements and hand them to the accountant!

  1. Keep Business and Personal Finances Separate

With a credit card designated for business use only, it’s simple to keep your personal finances separate. When the statement comes, you already know everything is business related.

  1. Business Credit Cards Manage Employee Spending

If your employees make payments or buy supplies for the company, add them as authorized users to your account. They’ll get their own card with their name on it. Your credit card statements and annual reports will separate spending by the employee so you can see at a glance who is spending what. You can even set monthly spending limits per card.

  1. Earn Rewards and Benefits

Choose a business credit card with a rewards program. This way, you’ll earn cash back, travel rewards, or merchandise in exchange for paying for things you need anyway. It’s a benefit you just don’t have when you pay with cash or check!

 

Reduce your financial recordkeeping struggles with a business credit card. Make your card payments within the grace period, and it’s the same as paying with cash, but with many more benefits that cash doesn’t provide.

But wait... there’s more!
Click below to keep learning!

How to develop a content strategy for IT

How to develop a content strategy for IT (examples inside!)

You’re convinced. Content marketing is the way to grow your MSP. Now what? To really get the most out of content marketing, you need a good strategy. And you need a strategy that’s going to work for your business. That means you’re not going to find a one-size-fits-all strategy.

What you need from your content marketing service

So, you're on the lookout for a content marketing service for your MSP. If you’re new to this whole content marketing thing, how do you judge which service will be a good fit for your business? Let’s look at a few of the areas you should consider when shopping content marketing services.

Why video content marketing is ultra effective for the IT industry

Video seems to be on the rise and in your face wherever you go. It’s not your imagination and it’s not going away. If you’re not using video to market your services, you’re missing out on a huge opportunity to engage with your audience.
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *