Are Credit Card Rewards Taxable? Business & Personal Credit Card Tax Rules Explained

IRS terms: https://www.irs.gov/pub/irs-drop/a-02...

Are credit card rewards taxable? In this video, we break down the tax rules for business and personal credit card rewards, including points, miles, and cashback. Learn how the IRS treats these benefits, when they might be taxable, and how to use them strategically for your business.

In this video you will find:
0:00 – Introduction
1:28 – Types of Credit Cards & Rewards
2:59 – IRS Guidance on Credit Card Rewards
5:07 – When Credit Card Rewards Are NOT Taxable
6:30 – When Credit Card Rewards MAY Be Taxable
9:21 – Business Credit Cards & Tax Implications
10:50 – How to Use Points Strategically
12:26 – Final Tips & Choosing the Right Card

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Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at https://claracfo.com/

Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.

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