I don't share this stuff normally, but he did threaten to post it, so I may as well post it first.Have fun trying to help this guy with helpful advice as I did...
The saying goes that it's a rebate, but what about a rebate on a biz card? Why are they not sending out 1099's?
No idea what your question is.
If i earn a rebate on my biz card (points or cashbacks) why isn't it considered newly earned money?
It's a rebate of your purchase. Why does a business card change that?
Because it does not go back to the business, it goes into a personal pocket.
Zero difference.
Does anyone have a copy of old amext&c where it said clearly that MR points have no cash value? A cache version is fine. I desperate need it for my accountant. Thanks
Update: PAYING $100 FOR THIS INFO.PM for details of you found the requested info
Good find. I'm sure @Dan can verify, but looking at his old posts, you can see a similar (bad) writing style, looks like he opened a new name for this rant.
Why does everyone feel the need to know exactly what’s going there is someone a client who has beeen audited by the irs and is having some major issues one of the things they have brought up is the points he had huge biz spent millions every year and of course never bothered to report the points as everyone knows points have no cash value well guess what Amex now says value depneds on use only on thier USA website not any other country and wipes the internet from old terms prior to the 2015 change so would be really useful to get copy of the old terms so please if no one has nahas hung smart to say don’t say it and no there is no need for us to give more info I’m asking for a simple piece of paper or copy of it scanned either someone can give it and get paid or they can’t. Don’t say 2013 etc doesn’t mention anything about value as if u know it’s a fact without producing the full terms from thier rewards from that time and FYI we’ve spoken to some very lnwoledagble ppl in this area who swear that USA uses to say points have no cash value
Because u don’t have it your working with Amex and deflecting to cover it up thing logically if the t and c from pre 2015 never mentioned value of points why would the whole internet be scrubbed form it u can not pull up full terms from rewards from than what u sent Dan is only part of it as proven when clicking on terms it redirects u to 2016
Paging @TimT
This is one of the most panicky, hysterical, irrational threads I've ever come across on DDF.
They have not. There is clear IRS guidance that credit card rewards are purchase rebates.
