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Common Cash-Only Write-Offs Which Can Be Paid With Plastiq
This information is for educational purposes only. Please consult with your tax adviser to confirm that your expenses are qualified for tax deductions.
Some common business deductibles, often paid for in cash or check, are professional services, insurance, and rent. Plastiq allows you to pay for these expenses with major credit cards, helping you preserve the capital you may need to invest in your business growth. The best part? The Plastiq fee is tax-deductible as well!
Are you hiring a tax professional, such as a Certified Public Accountant (CPA), to help to file your business taxes? Check out these tips to help you find the best tax professional for you. Keep in mind, if you are using a CPA to prepare both your business and personal taxes, you can only deduct the cost for a tax professional to prepare your business tax return.
Also, keep in mind that Plastiq allows you to pay with credit cards for an array of business services from creative, security, technology, food, transportation, management and consulting services to employment agencies and temporary help services.
Life insurance, medical insurance, worker’s compensation, liability insurance, property insurance, car insurance – are examples of ordinary and necessary business expenses, qualified for tax deductions. Like rent, they often need to be paid by cash or check but can be paid using Plastiq.
Rent payments and commercial property insurance are common tax-deductible business expenses, which often need to be paid by cash or check. With Plastiq, you can pay rent using major credit cards, and deduct the Plastiq fee on your business tax return.
This tax season, instead of using your cash that can be used to grow your business, pay with Plastiq and preserve your working capital!