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Get your taxes done using TurboTax
Yes, you can use a personal credit card to pay business expenses and deduct the interest as a business expense. But, you must be able to diligently and exactly trace the money from one place to another, so you can prove exactly how much of the interest is a business expense. The more you muddy the waters by mixing personal and business purchases, the more likely that you will lose the deduction if audited. It would be strongly recommended that you use one credit card only for business and never for personal expenses, even if the card is in your name, not the business. (And in fact, for a schedule C business, you and the business are the same thing anyway. Keeping separate credit cards and bank accounts is just good practice.)
March 30, 2019
10:08 PM