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Platnium Club membership - tax deductible???

Platnium Club membership - tax deductible???

Old Jan 2, 02, 1:29 pm
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Join Date: May 1998
Location: Bloomington,IL USA
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Platnium Club membership - tax deductible???

I may have this posted in the wrong place - but has the subject of listing (at least partially) an Amex Plat card fee as an unreimbursed business expense ever been discussed on the boards??

What are your thoughts?
EMD is offline  
Old Jan 2, 02, 1:49 pm
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Location: Massachusetts, USA; AA Plat (2.90MM), DL GM and Flying Colonel (1.04MM); Bonvoy Gold
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You'd probably get better results in the Omni area than specifically asking our host Randy P. You could also try the AmEx area, but your question is more generic than that: the rules that apply to AmEx (of whatever shade) apply equally to Diners, etc.

For what it's worth, you should be OK if you use it for business expenses related to self-employment income reported on Schedule C. To deduct it as an employee business expense (Schedule A, line 20) it has to be an employer requirement or at least for your employer's convenience rather than your own. (This category is only deductible in excess of 2% of your adjusted gross income, so if you don't have a lot of deductions it may not be worth bothering with it at all.) Fortunately, if you can show that your job requires you to have a credit card, you do not have to establish that Platinum AmEx is the least expensive one you could get.

I am not a CPA or any other type of tax professional. This advice is worth at most what you paid for it, perhaps less.
Efrem is offline  
Old Jan 3, 02, 9:47 am
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I think our friend Efrem has done a marvelous job of helping with this question. To my own knowledge, this is the correct assumption of a credit card fee as a legitimate business expense.

Thanks Efrem and hope this answer helps you EMD.
Randy Petersen is offline  

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