Old Aug 15, 10, 5:34 pm
  #5  
boncovi
 
Join Date: Aug 2010
Posts: 73
Originally Posted by sbm12 View Post
If you buy things for someone else and they pay you for them you are acting as a reseller. You'd quite likely draw the ire of not only the IRS but also your local sales tax folks if you don't file all the appropriate paperwork and follow the regs on that. Even if you don't actually make money reselling the stuff you still are required by law to file the details.

Do you really want to pay nearly 5% of your gross salary for a credit card annual fee? Seems pretty ridiculous to me.
Thank you for your reply.

I just wanted to hear the legal side of a crazy idea. I have been charging some expenses for friends etc. as I said before. It's good to know what would happen if I go crazy.

As I said, I don't have an extreme lifestyle, I don't fly or stay at hotels a lot, so I won't pay $7,500 to get the Centurion even if they offer it to me today.

I was discussing about it with a friend yesterday and wanted to ask what would happen, because I always see stuff like "how to get centurion" and they say "spend, spend, spend like there's no tomorrow", Charge everything on the card. I wondered if anyone had issues with spending "so much" personally while they don't make that much money. That's it.
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