Another question is getting a credit card balance paid for by an employer - is that taxable income


S

Spin

Gurus,

Another question is getting a credit card balance paid for by an employer -
is that taxable income?

Say you work for someone on the side outside of your normal W2 wage paying
job. And you won't get paid directly but instead benefit from a check sent
to your credit card company to pay your monthly bill. A good deal but what
would the IRS want to see done in this particular situation with regards to
tax reporting?
 
Ad

Advertisements

P

Paul Thomas

Spin said:
Another question is getting a credit card balance paid for by an
employer - is that taxable income?

Yes




Say you work for someone on the side outside of your normal W2 wage paying
job.


Maybe you're self employed then?


And you won't get paid directly but instead benefit from a check sent to
your credit card company to pay your monthly bill. A good deal but what
would the IRS want to see done in this particular situation with regards
to tax reporting?


It's either reported on a W-2 if you are considered an employee, or it's
reported on a 1099 if you are self-employed.

Either way, it's income to you.
 
Ad

Advertisements

S

Spin

Thx Paul.

Paul Thomas said:
Maybe you're self employed then?






It's either reported on a W-2 if you are considered an employee, or it's
reported on a 1099 if you are self-employed.

Either way, it's income to you.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top