Tax Deductible Bonus Miles for Sale
Nov 11, 2004, 7:57 am
#1
Original Poster
Join Date: May 2004
Location: LAX
Programs: CO Platinum HHonors Diamond Avis President's Club
Posts: 2,312
Tax Deductible Bonus Miles for Sale
From the latest AA Account Summary E-mail:
Make a tax-deductible contribution of $25 or more to the National Foundation for Cancer Research and receive 10 bonus miles for each dollar you give! Your gift will help NFCR fund breakthroughs in cancer research and improve the lives of more than 3,500 people who are diagnosed with cancer each day. It's a great way to accumulate miles and join in the fight against cancer. To help, call 1-800-321-CURE (2873).
So, figure out if you're going to owe any taxes before Dec. 31st and make your tax deductible contribution to fund cancer research while earning miles. You might think that it isn't great at .1/mile, but come April you'd be giving that moola to the IRS anyway if you are going to owe...
Anyone else know of other ways to get tax deductible miles?
peace,
~Ben~
Make a tax-deductible contribution of $25 or more to the National Foundation for Cancer Research and receive 10 bonus miles for each dollar you give! Your gift will help NFCR fund breakthroughs in cancer research and improve the lives of more than 3,500 people who are diagnosed with cancer each day. It's a great way to accumulate miles and join in the fight against cancer. To help, call 1-800-321-CURE (2873).
So, figure out if you're going to owe any taxes before Dec. 31st and make your tax deductible contribution to fund cancer research while earning miles. You might think that it isn't great at .1/mile, but come April you'd be giving that moola to the IRS anyway if you are going to owe...
Anyone else know of other ways to get tax deductible miles?
peace,
~Ben~
Nov 11, 2004, 8:27 am
#2
Join Date: Feb 2004
Location: DFW AA PLT
Programs: SPG HHonors
Posts: 1,045
Originally Posted by seoulmanjr
From the latest AA Account Summary E-mail:
Make a tax-deductible contribution of $25 or more to the National Foundation for Cancer Research and receive 10 bonus miles for each dollar you give! Your gift will help NFCR fund breakthroughs in cancer research and improve the lives of more than 3,500 people who are diagnosed with cancer each day. It's a great way to accumulate miles and join in the fight against cancer. To help, call 1-800-321-CURE (2873).
So, figure out if you're going to owe any taxes before Dec. 31st and make your tax deductible contribution to fund cancer research while earning miles. You might think that it isn't great at .1/mile, but come April you'd be giving that moola to the IRS anyway if you are going to owe...
Anyone else know of other ways to get tax deductible miles?
peace,
~Ben~
Make a tax-deductible contribution of $25 or more to the National Foundation for Cancer Research and receive 10 bonus miles for each dollar you give! Your gift will help NFCR fund breakthroughs in cancer research and improve the lives of more than 3,500 people who are diagnosed with cancer each day. It's a great way to accumulate miles and join in the fight against cancer. To help, call 1-800-321-CURE (2873).
So, figure out if you're going to owe any taxes before Dec. 31st and make your tax deductible contribution to fund cancer research while earning miles. You might think that it isn't great at .1/mile, but come April you'd be giving that moola to the IRS anyway if you are going to owe...
Anyone else know of other ways to get tax deductible miles?
peace,
~Ben~
Nov 13, 2004, 5:53 pm
#3
Join Date: Sep 2004
Posts: 534
actually, it's better than $.1/per mile...depending upon which tax bracket you're in 
say, if you're roughly at around a 30% bracket, that would be 10 miles for $.70, vs. 10 miles for $1.00, assuming you itemize your deduction...
If you were starting from scratch, and assuming a 30% discount via the IRS, that'd put you in million miler status for ONLY $70,000 real ca$h.
say, if you're roughly at around a 30% bracket, that would be 10 miles for $.70, vs. 10 miles for $1.00, assuming you itemize your deduction...
If you were starting from scratch, and assuming a 30% discount via the IRS, that'd put you in million miler status for ONLY $70,000 real ca$h.
Last edited by AMA; Nov 13, 2004 at 5:55 pm
Nov 14, 2004, 2:31 pm
#4
Guest
Posts: n/a
Originally Posted by AMA
actually, it's better than $.1/per mile...depending upon which tax bracket you're in
say, if you're roughly at around a 30% bracket, that would be 10 miles for $.70, vs. 10 miles for $1.00, assuming you itemize your deduction...
If you were starting from scratch, and assuming a 30% discount via the IRS, that'd put you in million miler status for ONLY $70,000 real ca$h.
say, if you're roughly at around a 30% bracket, that would be 10 miles for $.70, vs. 10 miles for $1.00, assuming you itemize your deduction...
If you were starting from scratch, and assuming a 30% discount via the IRS, that'd put you in million miler status for ONLY $70,000 real ca$h.
Nov 14, 2004, 4:12 pm
#5
A FlyerTalk Posting Legend
Join Date: Feb 2000
Location: Cambridge
Posts: 63,635
Originally Posted by AAgent99
Wouldn't it be $700,000 real ca$h?
30% x $100k = $30k deduction
$70k -> 1 million miles
Nov 23, 2004, 2:47 pm
#6
Join Date: Jun 2004
Location: SFO
Programs: AA PLT; UA Gold
Posts: 5,378
Has anyone received miles from this yet? Does anyone know how long it is supposed to take for the miles to post?