online business accounts
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Using Credit Cards to Save Money on Business Expenses
Cash Back Rewards
Earn Cash Back: Credit cards like the Capital One Spark Card offer 2% unlimited cash back, while the American Express Plum Card offers 1.5% unlimited cash back.
Offset Fees: Using a credit card with cash back can partially offset the 2.90% process fee, reducing the effective cost.
Tax Benefits
Tax-Deductible Fees: The 2.90% process fee can be filed as a tax-deductible business expense, offering some financial relief.
Additional Tax Breaks: Depending on the jurisdiction and tax codes, you may be eligible for additional tax breaks for using credit cards for business expenses.
Cash Flow Management
Cash Float Period: Credit cards often provide a 30 to 45-day payment window, allowing businesses to manage their cash flow better.
Utilize Funds: During this period, the funds can be invested in short-term opportunities or other revenue-generating activities.
Floating Revenue from Bank
Float Revenue – Cash Incentive Earnings: The funds in your bank account for 30 to 45 days could earn Cash incentive or be invested in short-term revenue-generating activities.
Capital Utilization: The cash float period allows you to strategically utilize your capital for other pressing needs or investment opportunities.
Detailed Example: Capital One Spark Card
- Process Fee: 2.90%
- Cash Back: 2%
- Tax Break: 0.06%
- Final Fee: 0.35%
- Additional Benefit: 30-45 days of cash flow management and float revenue.
Short on Cash? Cover Payroll with a Credit Card!
Zil Money’s Payroll by Credit Card keeps payroll running smoothly, even during cash shortages. Earn rewards on every transaction and use your credit card for fast, flexible payroll funding when it matters most!
Why Zil Money!
A technology-first approach to payments and finance
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QuickBooks Payroll Simplified – Fund with a Credit Card!
Integrating Zil Money with QuickBooks makes payroll effortless—import payroll summary and fund payroll instantly. Use your credit card to keep cash flow strong while ensuring employees get paid on time!
Manage Payroll Anytime – Mobile, Tablet, or Desktop!
Access Zil Money across any device—desktop, tablet, or mobile—for effortless payroll management. Pay employees anytime, anywhere, and never let platform limits slow your business down!
Maximize Credit Limits – Split Payroll Payments Smartly!
Split payroll payments across two credit cards, giving you more flexibility in managing expenses. Easily divide payments, maximize credit limits, and keep cash flow steady while ensuring employees get paid on time!
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