Seth Kamens, CPA, MBA, Managing Member at Kamens & Associates was recently featured in NAV – a leading financial health platform.
The article, “Is Using a Company Credit Card for Personal Use Embezzlement?,” discussed the tax and accounting implications that can occur when business and personal spending mix.
Kamens emphasized the key concern for business owners is how these transactions are categorized for tax purposes, noting “if you are the business owner and you use your business card for a personal purchase, you shouldn’t deduct [the expense],” adding “if it’s not business applicable, it should just be a distribution.”
Seth’s advice highlights the importance of accurately separating personal charges from deductible business expenses to avoid complications and potentially compromising legitimate deductions like business interest.
To read the article in its entirety, please click here: https://bit.ly/4rm5fKC For more information on the firm, please contact: [email protected] or call: (973) 740-0880.
ABOUT SETH KAMENS:
Seth Kamens is the Managing Member of Kamens & Associates, and a New Jersey and New York Certified Public Accountant. His education and work experience in financial services, accounting and entrepreneurial endeavors uniquely qualifies him as an ideal resource for closely held businesses, startups, and established firms.
As a CPA and former financial advisor, Seth brings a powerful and diverse background to help clients achieve both their short-term and long-term financial goals.
Always interested in promoting the industry, Seth has spoken about CPA and entrepreneurship to students at St. Peters College, Jersey City, NJ.
Prior to starting Kamens & Associates, Seth worked at several well-known New York City firms, such as Morgan Stanley, Merrill Lynch, Deloitte, and Cohn, with an accentuation on tax and financial planning. He holds an MS in Accounting from Pace University, an MBA from George Washington University with a joint focus in Finance and International Business, and a BA from the University of Maryland.
ABOUT NAV:
NAV is a leading financial health platform dedicated to empowering business owners with transparent access to capital, credit insights, and financial management tools.
NAV helps entrepreneurs understand their financial health and connect with the right loan, credit card, banking, and other business service options before applying. NAV’S platform brings clarity and confidence to businesses navigating complex financing decisions. Trusted by millions of business owners across the U.S., NAV is committed to breaking down barriers to funding and enabling sustainable growth and success.