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Originally Posted by Brad Gosse
Yeah it's always been considered a grey area in business. My guy said that most people only spend 1K per month or less so they don't sweat the points. I spend much much more than that so my points add up fast. All my hosting, travel hardware, software etc get charged to my AMEX monthly.
Now I have to pay about $6000 for the benefit those points awarded me.
Let this be a lesson to the rest of you. Use your points for business purchases and you will be ok.
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Damn, does Amex report to the CCRA when you cash them out? During my audit, it never came up, although I didn't redeem any points so I guess I'm safe for now. I'm sure if he saw my visa statements and my total points dropped he would have noticed that. But so long as you use your reward points for business use it would be fine or would that be considered taxable income for your company (as opposed to a personal benefit in your case)?
WG