Financial Planning -> Save Money -> Loyalty Points / Frequent Flyer Miles
Loyalty Points or Frequent Flyer Miles Can Expire
There are many different "loyalty" programs which earn points that can be redeemed for merchandise or air travel miles. Some provide cash-back rewards, and sometimes the points can be converted to cash.
Many of these programs provide for cancellation of the points under certain conditions. It's important to read the fine print to ensure you don't lose your points.
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Under certain circumstances, loyalty points can be taxable to employees or business owners.
Tax Tip: Know the terms of your loyalty or frequent flyer programs.
Revised: October 26, 2023