I'm not a hacker - how much should you normally get paid for a low/medium/high bug? 50k points ~= $1500; 250k points ~= $7500; 1m points ~= $30k.
A lot more if you redeem for int'l biz/first class...
A lot more if you redeem for int'l biz/first class...
Another gem in the ToS: "You are responsible for any tax implications that apply based on your country of residency and citizenship."
I know miles earned from credit cards are not taxed, but I do know for a fact that Citibank sends out a 1099 for new checking accounts that come with bonus miles.
If United sends you a 1099 based on the market value of a mile (likely between 2-3 cents each), then you're looking at non-trivial tax implications as well.
I made a calculator to answer the question: should I pay cash or spend miles. I set the "good value" threshold at 2c/mile: https://kballenegger.github.io/miles-or-cash/