-
Jun13
Is it legal to run your personal credit card through your business credit machine?
4 CommentsQuery by robink4d: Is it legal to operate your individual credit card through your organization credit device?
We individual a organization that accepts credit and a number of instances we have operate our personal credit card through to put funds in our company account. Is this legal? We are in NJ.Best reply:
Response by phiphi_dreamer
i think it is legal as lengthy as you pay out your bill . but make certain that you create it down for irs function . in circumstance you get audit for cash flow .Give your solution to this question below!
Incoming search terms for the article:
Related Post
4 responses to “Is it legal to run your personal credit card through your business credit machine?”
-
No, it’s not legal
-
browneyedgirl623 June 13th, 2011 at 12:23
I don’t know for certain, but I would imagine that you are on shaky legal footing doing so. First, what you are doing is technically taking a cash advance, without paying the higher fee and interest rate. Secondly, the credit card company *may* retain a security interest in the items purchased, and if you aren’t purchasing an item, you may be committing a fraudulent act.
Your answer is probably somewhere in the fine print of your user’s agreements with your credit card processor and your bank.
-
It’s legal. Your robbing petter to pay paul. If you need help in lowering your rate and cost for your machine, please check out the site below.
Leave a reply
Credit Card Processing
ally_1999_1 June 13th, 2011 at 12:19