Can You Use Business Credit Cards For Personal Expenses?

Can a business owner use company funds for personal use? In a given year, the IRS audits approximately less than 1% of returns, and they only audit three years back. The chances of getting audited are slim, but the rewards for claiming personal expenses as business expenses are high. Writing off several thousand dollars in personal expenses as business expenses saves you several thousand dollars in income tax. There is a difference between following a tax strategy to reimburse yourself for personal expenses legally allowed by the IRS to minimize your business income taxes, vs. straight up charging a whole bunch of inappropriate personal expenses to a business account. I won’t go over the tax consequences, but I’ll explain today why I suggest following being prudent with your company financial reporting. 00:00 Low Risk, High Reward 01:40 Blatant, unjustified spending on personal expenses 05:13 Selling Your Business 06:58 Taking On Investors For Your Business 🔗 *Relevant Links:* Free Audiobook of the 5-Day Job Search - https://anniemargaritayang.com/the-5-... Buy The 5-Day Job Search - https://www.amazon.com/5-Day-Job-Sear... Buy 1001 Ways To Save Money - https://www.amazon.com/1001-Ways-Save... My website - https://anniemargaritayang.com 📱 *Follow Me:* Instagram -   / anniemargaritayang   LinkedIn -   / anniemargaritayang   Tiktok -   / anniemargaritayang   Facebook -   / anniemargaritayanginc   Contact Info: Email: [email protected] Signal Text: +1 806-544-2929