Business card for Overseas Business?
Aug 12, 2013, 1:47 pm
#1
Original Poster
Join Date: Dec 2012
Posts: 23
Business card for Overseas Business?
Hi all-
I'm thinking of getting my first business credit card, since my boss just informed me that in lieu of petty cash, he's prefer me to use a personal card then would reimburse me for office necessities. I'm American, but currently working for a foreign company overseas.
My question is really a tax/"the man" question. Is there any problem with using a USA business credit card to pay for foreign expenses? I mean, would there be any tax related issues? Also, it's not "my" business. Does that make a difference? If not, I see opportunity...don't you?
Thanks!
I'm thinking of getting my first business credit card, since my boss just informed me that in lieu of petty cash, he's prefer me to use a personal card then would reimburse me for office necessities. I'm American, but currently working for a foreign company overseas.
My question is really a tax/"the man" question. Is there any problem with using a USA business credit card to pay for foreign expenses? I mean, would there be any tax related issues? Also, it's not "my" business. Does that make a difference? If not, I see opportunity...don't you?
Thanks!
Aug 12, 2013, 2:11 pm
#2
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,952
I suggest you begin by reviewing this thread to understand some of the tradeoffs to using a Business card rather than a separate personal card for your business expenses:
http://www.flyertalk.com/forum/credi...nal-cards.html
It is unlikley that there will be any issue with USA or foreign tax authorities provided you keep adequate records of your expenses and reimbursements, but this is truly not a topic to accept advice from strangers on an internet forum.
Otherwise, you likely want to look for a card with two characteristics:
1. No foreign transaction fees. Discussion here:
http://www.flyertalk.com/forum/credi...tion-fees.html
2. An EMV chip, Rambling discussion here, but at least read the first few posts:
http://www.flyertalk.com/forum/credi...signature.html
http://www.flyertalk.com/forum/credi...nal-cards.html
It is unlikley that there will be any issue with USA or foreign tax authorities provided you keep adequate records of your expenses and reimbursements, but this is truly not a topic to accept advice from strangers on an internet forum.
Otherwise, you likely want to look for a card with two characteristics:
1. No foreign transaction fees. Discussion here:
http://www.flyertalk.com/forum/credi...tion-fees.html
2. An EMV chip, Rambling discussion here, but at least read the first few posts:
http://www.flyertalk.com/forum/credi...signature.html
