Are there any tax constraint I should be aware of when using cash back rewards from a business credit card (a C-Corporation with just 1 person, me)? Would taxes go through directly to me for using the rewards?
1 Answer
A C-Corp is not a pass-through entity, any applicable taxes would be paid by the Corporation, which is a separate legal entity from yourself. If you use the points to purchase something for yourself, that would constitute "income" to you, and would be taxable on your personal income tax.