How Taxes Affect Your Points Hobby with Carter Cofield | Ep 55 Geobreeze Travel

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Carter Cofield of @cofield_advisor is a Certified Public Accountant (CPA) who is dedicated to helping entrepreneurs save money on taxes. He's spent years learning the best tax savings strategies so that he can teach them to entrepreneurs and business owners everywhere. He’s also the owner of Cofield’s Concepts which is a financial literacy website teaching people how to make more money, pay less taxes, and be their own boss!

In this episode, Carter and I discuss tax considerations if you're getting deeper into the points hobby. Are points taxable? What about bank bonuses? Will the IRS get mad at you if you use personal expenses to meet minimum spends for business credit cards? What are some tax writeoffs you can get for being in this hobby? Get excited to find out!

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Timestamps:

(00:00) - Introduction: Taxes and Travel Hacking
(05:50) - Taxation of Credit Card Rewards and Income
(11:08) - Reporting Taxable Income from Rewards
(18:18) - Tax Implications of Hiring Family Members
(22:40) - Legal Taxation and Avoiding Greed
(26:05) - Tax Deductions for Travel Bloggers
(29:02) - Finding a Knowledgeable CPA
(36:06) - Maximizing Financial Potential and Resources



You can find Carter at:

Instagram: http:/www.instagram.com/cofield_advisor



You can find Julia at:

Website: https://www.geobreezetravel.com

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

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

Masterclasses: https://www.geobreezetravel.com/hangouts

Patreon to access recordings of masterclasses: https://www.patreon.com/geobreezetravel

Award travel coaching call: https://www.geobreezetravel.com/calendly

Sign up for the newsletter and get exclusive access to sign up for free coaching calls: https://www.geobreezetravel.com/free-coaching



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