TaxesUncategorized

Cause I’m The Taxman

“If you drive a car, I’ll tax the street, If you try to sit, I’ll tax your seat. If you get too cold I’ll tax the heat, If you take a walk, I’ll tax your feet.” -The Beatles

Over the past few days, I have received a flurry of emails from panicked FFU readers who have come across news articles and blog reports of people having to pay taxes on some of the miles they have recently earned.

While to some extent these reports are true, it is easy to blur the line between what is true and what is speculation.

Daraius at Million Mile Secrets has an excellent post that summarizes all the recent tax activity and discerns what is fact from fiction.

Bottom Line:

You never have to pay taxes on Credit Card sign-on bonuses!

-Parag

 

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