Entrepreneurs Money Tips

Did you know that you can leverage your tax liability into an asset?  Yes, you still have to pay the taxes you owe but if you put them on your American Express Business card you can earn about one reward point for each dollar you pay in taxes.

American Express has partnered with Link2Gov and Official Payments to offer you the ability to pay your taxes with your credit card.  When you use a card like the Business Gold Rewards card, not only do you earn points for the dollars spent, you also get to hold onto your hard earned cash until your next statement payment is due.

Both sites charge a convenience fee but you may be able to use membership rewards points to pay the fee. Here are some of the taxes you can pay with your American Express card:

Federal

• Quarterly Estimated Taxes: 1040–ES
• Employee Withholdings: Form 941
• Unemployment Tax: Form 940
• Automatic Extension Payments: Form 4868
• Employer’s Annual Federal Tax Return: Form 944

Entrepreneur Zac Johnson covers some of the pros and cons of paying your taxes with a credit card over at ZacJohnson.com.