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If you're going to exploit your business (and why wouldn't you? That's what they're for!) you should be a Hilton Honors member. I can't find the exact thing I want to show, but what I had seen were "add-ons" to a reservation. One of the add-ons was bonus points. Why the hell would you buy points, and at a ridiculous rate at that? Because it's not your money. It's a business expense. The business pays, you redeem.
While I couldn't find that exact deal, I did find a "double points" package. For an extra $10/night you can earn twice as many reward points for your own fun time. Not your money!
1. I can request a check. Will probably appear on statement and bookkeeper will ask me about it. May get a 10-99 depending on amount.
2. use the business card and use the reward money to offset the purchase. Bookkeeper will ask me about it... May just tell her to STFU.
Care to divulge which card? In my scenario, they're Chase Ultimate Rewards points, so not actually cash. I plan on transferring them to an airline partner and using said points to buy airfare.
In your case, it sounds like they may be actual cash back (i.e. a Capital One Spark or something). That means you'd have to make a personal purchase on the business card and then cash out with a statement credit to offset said purchase. If it all zeroes out and you tell your bookkeeper it was a personal item and I don't plan on deducting it, I can't see it being a problem
They usually offer gift cards for more value than the cash value. Cash it in for one of those and then update the Gift Card thread so no one can offer any good suggestions on how to spend it.
I can’t imagine counting rebates or rewards as earned income though.
Care to divulge which card? In my scenario, they're Chase Ultimate Rewards points, so not actually cash. I plan on transferring them to an airline partner and using said points to buy airfare.
In your case, it sounds like they may be actual cash back (i.e. a Capital One Spark or something). That means you'd have to make a personal purchase on the business card and then cash out with a statement credit to offset said purchase. If it all zeroes out and you tell your bookkeeper it was a personal item and I don't plan on deducting it, I can't see it being a problem
Capital One Spark. I think you are correct in the best way to approach it.
007, the issue is that I am "supposed" to account for the 1.5% "rebate" (that's how the IRS sees it) on items purchased with the card and use that in accounting for their value, depreciation, etc...
I just don't know if anyone ever checks... I am pretty low-risk with my business accounting.
Capital One Spark. I think you are correct in the best way to approach it.
007, the issue is that I am "supposed" to account for the 1.5% "rebate" (that's how the IRS sees it) on items purchased with the card and use that in accounting for their value, depreciation, etc...
I just don't know if anyone ever checks... I am pretty low-risk with my business accounting.
You know I'm a CPA who would rather chew glass than do people's taxes, but I do agree with your assessment on being low risk; at least based on some of the nonsense I've seen people do on their taxes.
You know I'm a CPA who would rather chew glass than do people's taxes, but I do agree with your assessment on being low risk; at least based on some of the nonsense I've seen people do on their taxes.
I'll have to tell that to my oldest daughter who's an accountant but does auditing as her main focus. She hates doing taxes.
I'll have to tell that to my oldest daughter who's an accountant but does auditing as her main focus. She hates doing taxes.