Tax Time: Do You Have to Pay Taxes on Credit Card Rewards?

Tax Time: Do You Have to Pay Taxes on Credit Card Rewards? Avatar Posted by amabaie under Taxes
From http://cardguys.com 932 days ago
Made Hot by: Young on February 20, 2013 5:30 pm
The question of whether or not your credit card rewards are income — and reportable to the IRS — depends on whether you are dealing with a rebate or a windfall. If it’s a windfall, you are supposed to report it as income and pay taxes on it. If it’s a rebate, though, you are in the clear. The good news is that most credit card rewards programs qualify as rebates.



Comments


Log in to comment or register here.

Three Key Voluntary Policies for Women

Today 4 in 10 women are the sole or primary breadwinners for their families,¹ and they do more than twice the amount …
Subscribe

Kenji Crosland: What Makes a Person an Entrepreneur?

What makes a person an entrepreneur? Maybe it's just a decision to do something different with your life. That's how … More
Editor's Picks


Post your small business video to BizSugar today!
Have you tried BizSugar's new video posting feature?
It's time to up your game with video on BizSugar!
Did you know you can now post video on BizSugar?