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About LinkBacksI was looking to get a new credit card and wanted to know if I could write off a percentage of the annual fee and maybe even the initiation sign-on fee. This is for the Amex Black card so $2,500 yearly and a $5k initiation is a bit much. I will be using the card primarily for work related expenses.
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Green Member
- Join Date
- Jul 2009
- Location
- Socal
- Posts
- 1
Can you write off a credit card annual fee?
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Centurion Member & Moderator
- Join Date
- Jun 2008
- Location
- Smogland
- Posts
- 1,400
I believe you should be able to write off the entire amount if it is for work-related purposes. From what I understand, as long as it is classified as a part of your business, it is tax deductible. However if you "officially" use it for personal purchases, that may be a problem...
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
Current Cards: American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Citi Thank You Premier
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Green Member
- Join Date
- Aug 2009
- Location
- boston
- Posts
- 2
I use one cc for business only and write off all fees.
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