Dear Cashing In, If I
use business credit card rewards to get gift cards to various retailers, can I use them personally, and is it considered taxable income to me?
Small
business credit card rewards come in a number of forms including a flat rate for all your purchases or tiered rewards in certain categories, many of which are designed specifically with common business expenses in mind — think travel, shipping, office supplies, advertising, etc..
Learn more about rewards and other important information about
the Business Credit Card Reward Program.
Trying to determine if your individual or
business credit card rewards are taxable is often confusing.
The business credit card rewards programs typically work the same as personal credit cards with similar options.
One of the lesser - known ways to get great value out of
your business credit card rewards is to transform them into frequent flyer miles.
Another business credit card reward: financial management — Business credit card rewards go beyond frequent flier miles and cash back incentives: They provide small business owners important financial management tools, too.
Kick off
your business credit card rewards by earning bonus cash back after you spend the required amount in the allotted time from account opening (see above).
Business credit cards reward you for purchasing items and services that correspond to your business.
When doing
a business credit card reward comparison, there are many things that are subjective to you and your business.
One of the lesser - known ways to get great value out of
your business credit card rewards is to transform them into frequent flyer miles.
Betabrand, a crowdfunded clothing retailer, uses
its business credit card rewards to send employees on international trips.
Getting the most out of
your business credit card rewards can be a job in itself.