Setting Up Your Consulting Practice

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Topic: Choosing a Business Credit Card

A business credit card can make tax accounting and expense processing easier for your independent consulting firm. In addition, many offer perks, such as a Priority Pass.

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Obtain a business credit card.  Okay, this is a pretty easy one, you’ve set up personal credit cards before, no great secret here.

Having a business credit card has one advantage with just simple bookkeeping. If you are running all of your business expenses through that credit card, it makes it a little bit easier to segregate when you’re doing your bookkeeping for tax purposes.

Number two, a business credit card may have some nice benefits that are worth paying a little bit extra in terms of annual fees for, such as one benefit that I’ve really enjoyed has been Priority Pass.

I’ve spent time in airport lounges, around the world using Priority Pass, And if you’re traveling a fair bit, that is an awesome benefit.  I’ve used Priority Pass all over the world probably 30, 40 airports and it’s always been very handy.

Another benefit of the Chase Ink card for example, along with other cards, is accumulating points that you can then use for business travel.