Should you use your personal credit card for your Sole Proprietor?
As a sole proprietor, it is ok to use your personal credit card for your business. You should pay all your personal debts of the card first and keep that credit card just for your business. Otherwise, if you don’t pay your card purchases in full every month, you could not deduct your credit card interest as business expenses. You won’t be able to calculate accurately the business portion of interest to deduct as business expenses.
If you have multiple credit cards and don’t want to get a business credit card, look at all your credit cards and pay off the one with the least balance and reserve it for your business. If all your credit cards have $0 balance, you could reserve the one with the highest interest rate for your business.
Discover card is an example of credit card option to consider for business credit card if you are a sole proprietor.
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“I am not an attorney to practice law. I am not allowed to draft legal documents, give advice on legal matters including immigration, or charge a fee for these activities.”
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