Are the costs of business credit tax deductible?
Yes, the costs of business credit can be tax deductible. You should consult your tax attorney for more detailed information, but interest and finance charges incurred on your business account are tax deductible. This is an important distinction between business credit and personal credit, and is one of many reasons why it is in your best interest to separate your business expenses from your personal expenses.
Provided by: First Equity
First Equity is a leading credit card provider specializing in the provision of bankcards to the nation's small businesses.