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No. CC points are not taxable if earned via spending - they're like rebates for spending so they are not taxed. For the same kind of points (Chase Ultimate, fo
by yandie 7y ago
No. CC points are not taxable if earned via spending - they're like rebates for spending so they are not taxed.
For the same kind of points (Chase Ultimate, for example), you are taxed if earned via:
* Referrals
* Opening an account (i.e. Chase checking account)
* Other non-spending activities
- dantillberg 7y agoBut if the business spends $100 and the rebate is $2, but I personally pocket the rebate instead of giving the money back to the business, wouldn't that $2 become taxable personal income? (and perhaps also theft, depending on my relationship to the business?)
- lotsofpulp 7y agohttps://www.irs.gov/pub/irs-drop/a-02-18.pdf https://www.irs.gov/pub/irs-drop/a-02-18.pdf Seems like only cash rewards are taxable, but even then, it doesn't see like the IRS would be interested in pursuing it.
- deleted 7y ago[deleted]
- DataGata 7y agoIf you run a small business and have a SB card, spending just $100k can get you more than $1k in rewards a year. $1k is still probably not worth the IRS tracking down, but getting on the IRS being too busy to tackle your tax fraud is still tax fraud.