Comments on: Do I have to pay taxes on credit card rewards?

By: scottakrohn

scottakrohn — Fri, 21 Nov 2008 02:14:59 +0000

Only if you have deducted the interest as a business expense.
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By: Wayne Z

Wayne Z — Fri, 21 Nov 2008 01:47:59 +0000

No, if it is a personal credit card. Yes, if it is a business credit card used to purchase items for the business.
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By: linluv2001

linluv2001 — Fri, 21 Nov 2008 01:08:59 +0000

No you do not.
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By: curious1223

curious1223 — Fri, 21 Nov 2008 00:43:59 +0000

This falls in the "gifts" category. Check the IRS code for that. I believe there is an allowable amount that is tax-free (and $2000 stated by the other answerer sounds right)
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By: sarge927

sarge927 — Fri, 21 Nov 2008 00:33:59 +0000

Nope. Any discounts you get from credit cards are part of the contract between you and the credit card company. They're considered "incentives," not income.
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13+ years experience as a paralegal specialist

By: Chase

Chase — Thu, 20 Nov 2008 23:45:59 +0000

only if its worth more than 2000 dollars
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