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 1200 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.

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 …
Subscribe

Cendrine Marrouat Makes Social Media A Work of Art @cendrinemedia

To reach a wider audience and sell more of whatever product you create in business today, it is first necessary to … More
Editor's Picks

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