taxable business

Are Credit Card Travel Rewards Taxable?

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Are Credit Card Travel Rewards Taxable? Generally, the IRS categorizes redemption of credit card rewards and frequent flyer miles as non-taxable. Instead of being seen as income, “they are treated as rebates or discounts on what you purchased,” Steven Rossman, CPA and shareholder at accounting firm Drucker & Scaccetti, tells Select. Are credit card Rewards

Are Credit Card Travel Rewards Taxable Income?

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Are Credit Card Travel Rewards Taxable Income? As a general rule of thumb, credit card rewards earned by spending money are not counted toward taxable income. If you collect $200 in cash back for spending $1,500 in three months, for example, that wouldn’t be considered taxable — because of the spending requirement. Do credit card