FlyerTalk Forums - View Single Post - Applying for Business Credit Cards [Consolidated]
Old Jan 7, 12, 4:21 pm
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Originally Posted by steveme View Post
... with a cash back card, you are responsible for paying taxes on the money earned.
Not exactly. Cash back is a partial refund of the amount spent, not income. If you use the card strictly for personal spending there is no tax liability. If you use the card for deductible business expenses the rebate could reduce the amount of the expense deduction, but this determination should be made in consultation with an accountant, not based on an internet post.
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