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Tax On Your AMEX Points!
My auditor has just informed me that I will be paying a taxable benefit on my AMEX points!!!
I primarily use my AMEX for business and end up getting a free vacation every year out of the deal. NOW I have to pay tax on the dollar value of the points.
I was always under the impression that this was a "grey area" for the taxman but nope. I have to pay tax on all the points I have cashed in. Over a million points!
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