Using business debit card for food purchases on the road.

My CPA says if you are out on business or entertaining use your Business card...

 

I'm entertaining at the moment so all of this stuff is covered...

 

I use mine all to often. I’d rather keep it just for Business expenses. Makes it easy to check at tax time for things I may have missed, or exact costs of IFTA, IRP, etc. Too many small purchases just makes the checkbook messy. But if Im out of cash, and don’t want to pay ATM fees. Makes sense to just use the card. Not ideal at all, in my case it’s better than using my personal account. That’s mainly for the house bills. But no one will ever question it or even care. It’s just another draw, like any other. It’s just Me, so there’s no question where it went. Purchases that are a write off, receipts kept anyway.

 

You’re allowed a meals deduction for the days you’re away from home. I think it’s 80% of a given amount. Maybe $70, or more nowadays. Not sure, it’s always going up. So in the $70 per day example, if you spend more than $56 per day 80% of $70) on food, and have receipts to prove it, you can deduct it. Otherwise $56 per day is allowed without any receipts. Business card statement isn’t going to itemize what the money was spent on. It’s good Business practice for your for tracking expenses. But in reality, it really doesn’t matter.

 

My guy has me use the business card whenever i’m in the truck. Personal card when i’m not.

 

Looks like someone needs to make a run for another bottle


For the 2 trucks we each have a business debit card. Strictly just for the trucks

 

Use it for food etc and deduct the per diem at the end of the year what's the problem with that?

 

By all means listen to your CPAs advice. My advice will only get you into financial turmoil. Lol.

 

If you deduct receipts AND per diem, you are double dipping, this is a no-no

Thats the problem with that