I need some advice

[honey415]

I am working on gettting my business up & running. I just recently opened my business account & they set me up to get a debit card. My boyfriend/business partner wants me to cut it up as soon as I get it, and use our personal bank account to make any business related purchases. Is this a good idea? Will I be able to write off said purchases with my personal account or do they have to be done with the business account to do that. Thanks in advance for any advice.

[Franakapan]

Whats the harm in having a separate debit card for your business?

[The Stealthy One]

Out of humorous curiosity, how old is your boyfriend? I'd like to have the honor of telling you he's a complete moron. A debit card is not a credit card. A debit card pulls the money from your bank account; when there is no money in your bank account you cannot use the card.

Here's some tough advice: dump the guy, at least as your business partner. Your venture will never be successful if he's around.

[MarcL]

Agreed, nothing wrong with debit cards, also alot of online purchases you need a debit or credit card. And I would rather use a debit card then a credit card.

[honey415]

Thanks for the advice. I really appreciate it. Which would be better to make business purchases with though my personal bank account or my business account? Can you write the purchases off if you make it through your personal account or does it have to be done through the business account?

[LightHouse]

Out of humorous curiosity, how old is your boyfriend? I'd like to have the honor of telling you he's a complete moron. A debit card is not a credit card. A debit card pulls the money from your bank account; when there is no money in your bank account you cannot use the card.

Here's some tough advice: dump the guy, at least as your business partner. Your venture will never be successful if he's around.

First off, slow your roll. you have the tip of the ice berg.. words could be meesed up. theres no telling weather someone will be sucessful based on such little information.

2ndly, the best idea is to keep all business related expenses... well business related. use your account check card becasue you will be able to log in online and track expenses and sort out dispute alot easier then if they were in your personal account. also it will be more difficult for your tax prep to work everything out if it is all mixed together.

[honey415]

Thanks thats what I thought.

[LightHouse]

im assumming that the business in question is also the link in your signature?

[honey415]

yes it is.

[LightHouse]

just some advice, try to get away from the yahoo thing, esp with kewlery. there are certain parts of your page that scream cheapo script. you could probably find someone local that could give you a good deal on a website done fresh... and hey you can write it off as well! good luck with the selling

[noobdog1]

first, apply for a business credit card.

don't be afraid of it. use it wisely. that's all.

the reason being if you use a business credit card - expenses will be easier to follow.

if you use your business debit card - tracking expenses can get hairy, especially if you use it alot.

using a business CC also builds your business's credit, so in the future, say 2 or 3 years from now - if you want to expand your business, you could use OPM for such an expansion.

[honey415]

Thx Lighthouse the website is still a work in progress, we have to change a few things...what parts did you think looked cheap?

And thx Noobdog, I will look into a business cc. I can actually get on through my bank, just went with the debit card for now cuz it came with the account.

[The Stealthy One]

If you have no neeed for credit, do not bother applying for it. As for the site, it has an unprofessional air to it. No one thing, really.

EDIT: LightHouse, not sure exactly how much business experience you have, but I've worked in a few partnerships now. This is no way to start. Though you may disagree with my advice, it sounds as though I have more experience than you. It is the OP's decision as to how to run her business, but this is an open forum, in which anyone may contribute and offer advice.

[LightHouse]

Thx Lighthouse the website is still a work in progress, we have to change a few things...what parts did you think looked cheap?

And thx Noobdog, I will look into a business cc. I can actually get on through my bank, just went with the debit card for now cuz it came with the account.

the whole yahoo air to it. also dont get into credit if you cant pay the bills use your money earned first and when you want to step it up do it right.


Edit - Some moderators here are still children, in respects to the op i will delete any sensible respectible posts i have made in this thread

[The Stealthy One]

No, I'm not kidding. You talk as though you've never been in a business partnership before. I have. The fact that this fellow knows nothing about business is not a good sign to me.