Banking For Small Businesses: Credit Cards That Have Zero Annual Fee

You do not have to be a financial expert to claim that taxes are one of the foremost things that drain money from your bank account. Every year, the government charges lots of money from consumers – via taxes. And when it comes to business owners, they are no exceptions either. However, if you have a well-established business with steady revenue, you will not be bothered by these federal taxes. Since you already have sizeable revenue and income every year, paying government taxes will not be an issue for you. But if you are a small business owner, you would feel that paying yearly and quarterly taxes is a big deal.

Andrea / Pexels / Paying yearly taxes for small business owners is a big deal.

That is why it is important for small business owners to find a way that can help wave off the government taxes. If you have such a plan in place, you can save a decent amount of money. In turn, you can use this money to expand your business. Nonetheless, you also need to be pristinely clear that there is a legal way to waive taxes. If you follow these legal procedures (to waive off taxes), you will not be held accountable.

One legal way to make your business tax exempt is by signing up for credit cards with no taxes. This is to say that if you own these credit cards, you will not be liable for the government taxes – that you pay either quarterly or yearly.

Pixabayb / Pexels / Using credit cards that have no annual taxes is a legal way of making your business tax exempt.

Now, let’s go ahead and see what some of the credit cards that have no annual taxes are:

• American Express Blue Business Cash

American Express is, by and large, the leading bank card producer in the United States. Unlike other service providers, American Express offers numerous features and a wide range of cards that add up to its popularity.

Dom / Pexels / You need to have an excellent credit score to own the Blue Business Cash Credit Card of American Express.

If you own a Blue Business Credit Card of American Express, you can access some major perks. One of them is tax exemption. Having Blue Business Cash wallet for your business means you will not be paying any federal or state taxes. If you do not have this credit card, you will be paying these taxes either quarterly or yearly.

However, this credit card comes with a catch: You need to have a good or excellent credit score to qualify for this card. So, before applying for this credit card, ensure your credit score is up to the mark.

• The Blue Business Plus

Another worthwhile credit card for small businesses is Blue Business Plus. Like Blue Business Cash, this credit card is also offered by American Express. Your business also needs to have an excellent – or at least good – credit score to qualify for this credit card.

Blue Business Plus also has zero yearly taxes compared to the previous card. So, keep your credit score intact, get either of these credit cards and make your business tax exempt.