Business Credit Cards & Business Loans

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Useful Tools to Help Your Business

Posted by businessfinancing on June 16, 2008

Here’s an example of some of the nifty features available for business credit card holders. Visa offers a system that allows you to “manage your expenses and improve your cash flow”.

Reporting Tools. This report allows you to see the total spending details for each registered credit card you have by calendar month within 8 merchant categories. It also provides summaries for each card and an overall company summary. There are 5 flexible types of reports available. Visa will send you spending alerts and customer reminders via email or through your online account.

Pay Bills. You cans use your Visa business credit card to pay bills instantly and avoid the hassle of writing checks, paying check fees and using stamps and envelopes. Most businesses accept Visa payments, including utility companies. Your payments will be listed in your monthly statement. If you are enrolled in a rewards program, it will get you points even faster.

Pay Taxes.  Although you will have to verify with your local tax authority for your particular state, most federal and state taxes can be paid using your business credit card. The taxes you can pay include corporate income taxes, federal and state business income taxes, payroll/unemployment taxes, state sales and use taxes, state taxes based on retail sales of taxable personal property,  state franchise or corporate taxes, and taxes imposed on businesses at the business entity level. Certain IRS-approved service providers will give you a discount for using your business credit card. The fee is tax deductible, and again, you can build up your rewards points by paying your taxes with your card.

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