If you run a small business, you’re probably looking for ways to stretch every dollar, especially when it comes to taxes and expenses. Well, there’s a solution you might not have heard about: Chexy. 

Most people who use Chexy think of it as a tool to earn rewards by paying rent and bills with a credit card. But small businesses have even more to gain. When you use Chexy to pay your business expenses, you can increase your credit card rewards, reduce your taxable income, and save big (even after Chexy’s processing fee). 

Here’s a breakdown of how it works. 

What is Chexy for Small Businesses?

With Chexy, you can pay invoices and bills, even to vendors who don’t accept credit card payments directly. You pay Chexy with your rewards credit card, and we pay your vendor via their preferred payment method–whether that be Interac e-Transfer, pre-authorized debit, or Bill Pay. 

You pay with your credit card, and they don’t have to do anything different. 

Some of the top benefits of using Chexy for your business include:

• Earn up to 100,000 Aeroplan® points* for paying your business expenses for at least 3 months with Chexy 

• Earn up to 4% cashback, travel points, or other rewards on payments you’d otherwise make by debit or bank transfer

• Pay up to $10,000 in one-time payments, great for tuition, paying contractors, or other large invoices 

• Improve cash flow by up to 60 days by putting payments on your credit card instead of sending cash out right away 

• Deduct the processing fee as a business expense to reduce your taxes 

Let’s talk about that last point, because it’s a game-changer. 

Chexy’s Fee Is Tax-Deductible

We charge a flat 1.75% processing fee on all payments (the lowest on the market). At first glance, that looks like a trade-off: pay a fee to earn rewards. 

But here’s the catch: the Chexy fee is a business expense. This means it’s tax-deductible, which lowers the income that you’re taxed on since it’s a “cost of conducting your business.” When it comes time for tax season, you can claim this fee and effectively pay less.

How Small Businesses Can Turn $30K/Month in Bills into $18K+ of Value with Chexy

Here’s a real-life example to break down the math:

If your business is paying large monthly expenses, like payroll remittances, GST, supplier invoices, or commercial rent, you could be leaving thousands of dollars in value on the table. By routing these payments through Chexy and your rewards credit card, you can unlock huge financial benefits.

Here’s how it breaks down:

• Put expenses on a rewards card: Paying $30K/month ($360K/year) through Chexy means all those payments can earn points,  without changing who you pay or when.

• Lowest fee in the market: Chexy charges just 1.75%, or $6,300/year on $360K in payments.

• Tax-deductible fees: That fee is a deductible business expense, which reduces your taxable income. At a 12% tax rate, that’s $756 back - bringing your net cost down to $5,544 (just 1.54%).

• Massive points haul: With the Amex Business Platinum earning 1.25 points per dollar, plus Chexy’s 25K Aeroplan bonus, you’d earn 475,000 Aeroplan points a year.

• Real travel value: That’s enough for 4 business-class flights from Toronto to Madrid (worth about $24,400) for a net benefit of $18,856/year.

And that’s not even counting the up to 55 days of interest-free float from your credit card, which can further improve cash flow! 

Boost Your Tax Efficiency with Chexy

Ready to start saving and paying less small business taxes? Chexy makes it easy to pay smarter, keep more money in your business, and turn everyday expenses into big rewards. 

Get started with Chexy today. 

Explore more benefits of using Chexy for your small business: 

• Earn big rewards on everyday business expenses

• Extend your cash flow by up to 60 days