videobear
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Feb 20, 2005, 9:13 AM
Post #2 of 7
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Re: [Rocket Dog] Business Expenses Question, Please help!
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It's OK if you don't have a credit card in your business's name. I just got one myself, after over ten years of running a part time business. It'll make it easier to track your finances, though, if you use one of your credit cards ONLY for business expenses.
You should open a bank account for your business.
Every new business needs startup capital. This can come from personal savings, from a business loan from a bank, from personal loans from friends or relatives, or simply from your Mastercard. For a sole proprietorship, the distinction between your personal finances and the business's can become kind of fuzzy, because you ARE the business. But if you keep a record of your business expenses and income (as opposed to your personal expenses and income), you should be fine, even if those expenses are paid for by your personal credit card.
Regards,
Doug Graham
Panda Productions
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