Hobby loss rules and audit risk

(Disclaimer: Click 'more' to see ad disclosure) Geobreeze Travel is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. 

➤ Free points 101 course (includes hotel upgrade email template)

https://geobreezetravel.com/freecourse

 ➤ Free credit card consultations https://airtable.com/apparEqFGYkas0LHl/shrYFpUr2zutt5515

➤ Seats.Aero: https://geobreezetravel.com/seatsaero

➤ Request a free personalized award search tutorial: https://go.geobreezetravel.com/ast-form If you are interested in supporting this show when you apply for your next card, check out https://geobreezetravel.com/cards and if you’re not sure what card is right for you, I offer free credit card consultations at

https://geobreezetravel.com/consultations!

Timestamps:

00:00 Points Tax Mythbusting

00:16 Show Intro and Guest

01:46 Are Rewards Taxable

03:49 What Counts as Business

07:51 Hobby Loss Audit Risk

09:52 Multi Card Reimbursements

12:39 Business Points Personal Use

16:59 Fair Market Value Gray Area

20:32 Who Gets Audited

22:17 Audit Outcomes and Penalties

23:31 International Tax Basics

28:07 Travel Write Off Strategies

30:59 Tax Planning and Wrap Up

You can find Julia at: 

➤ Free course: https://julia-s-school-9209.thinkific.com/courses/your-first-points-redemption

➤ Website: https://geobreezetravel.com/

➤ Instagram: https://www.instagram.com/geobreezetravel/

➤ Credit card links: https://www.geobreezetravel.com/cards

➤ Patreon: https://www.patreon.com/geobreezetravel

You can find Deen at:

➤ Website: https://ascendfinancialpartner.com/

➤ Instagram: https://www.instagram.com/deencadi/

➤ LinkedIn: https://www.linkedin.com/in/deencadi

➤ Facebook: https://www.facebook.com/61576586383148/

Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. The content of this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.