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Business & farm
@MB86 This would only be true if you were to purchase one item and you received a cash back reward specific to that one item. In that case you would report the net amount you paid for that one item as an expense.
The IRS does not require that you reduce your business expenses or report as income the amount your receive as a cash back reward on your business credit card.
The IRS does not require that you reduce your business expenses or report as income the amount your receive as a cash back reward on your business credit card.
‎June 3, 2019
1:59 PM