FlyerTalk Forums - View Single Post - Can a merchant account and credit card terminal be used to rack up points?
Old Dec 7, 2012 | 9:15 am
  #36  
fangtl
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Originally Posted by Insiderdude
Again, if you're putting $30k of your own money, into your own sole proprietorship or a company, why would taxes be a problem if you classify the $30k as an owner/equity contribution? You didn't provide any service to yourself or generate any taxable income for said business, so the $30k can be just your capital contribution (nontaxable event) to the receiving company.

Only on FT would you find these threads ...
So merchant card processors provides the 1099k, then you claim capital contribution on said 1099k. Suave.
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