Manual Office Basics Made Easy

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In addition, this helps keep the liability for repayment on your business rather than on you personally, which is particularly important if you form any type of business configuration other than a sole proprietorship. In the eyes of the law, other business formations, such as LLCs, are their own entity. Therefore, you are not held personally responsible for the business expenditures because the company is responsible.

Generally, business credit cards also provide the cardholder with itemized statements. These may be monthly, quarterly, or annually, depending on the card.

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Therefore, when you compare business credit cards, you should inquire about how often these statements are issued and choose the one that best suits your business needs. This feature is quite helpful because it frees you from having to keep track of all of your receipts. Instead of sorting through numerous receipts at tax time, you can simply use your itemized statement or take the statement to your accountant.

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To help make things easier, some of these itemized statements will even categorize your purchases into different areas needed for filing taxes, such as Office Supplies, Entertainment, and Postage. In addition to assisting you with bookkeeping, business credit cards can also help you save money.

Many offer travel rewards, special business related discounts, or cash back rewards. When you compare business credit cards, be sure to look at the various incentives they offer in order to find the one that best suits your business.