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 1345 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.


Log in to comment or register here.

This Could Be One of the Most Underestimated Employee Benefits

What's more important than salaries at your small business? Small business owners and entrepreneurs sometimes believe they …

Robert Peters Brings Fresh Eyes to Business @FreshEyesConsul

When you can no longer see the forest for the trees, it may be time for a fresh perspective. That's where Robert Peters … More
Editor's Picks

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