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Cash-back credit cards reward cardholders with a percentage of cash back on some or all purchases. For instance, Discover it cardholders earn 1% or 5% cash back depending on the type of purchase.
Like personal cards, a business credit card offers lots of benefits, from access to purchase power to points that can be redeemed for cash or other perks, like office supplies. When choosing the ...
An MCC reflects the primary category in which a merchant does business and may be used: to determine the interchange fee paid by the merchant, with riskier lines of business paying higher fees; by credit card companies to offer cash back rewards or reward points for spending in specific categories [4] [5]
Thankfully, most credit card rewards are not taxable. According to the IRS, any cash-back rewards a taxpayer receives on credit card purchases “do not constitute gross income.”. The IRS does ...
The Ink Business Unlimited® Credit Card is an excellent card for financing a big business purchase since it offers unlimited 1.5% cash back on every purchase, extended warranty and purchase ...
Find out if the miles and cash back you get from using your card to pay for business expenses have unintended tax consequences.Image source: Getty Images.
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