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15% off all SkyMiles awards for Amex cardholder

15% off all SkyMiles awards for Amex cardholder

Old Feb 16, 23, 3:54 pm
  #151  
 
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Originally Posted by sydneyracquelle
Pretty quickly as I file as soon as tax season opens up. I used to get hard checks in the mail. Now it’s direct deposit. Make sure you check the 2022 box online not 2023 or you won’t get your refund for another year. And definitely do not do this with a state as the amount would be taxable income.
I was more in fear that the refund would take a long time and I would not be happy paying the credit card balance without my refund already back in the bank!!
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Old Feb 17, 23, 8:05 am
  #152  
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It's definitely not for everyone - I would not be able to file a return that early, and regardless you should be prepared for the possibility that the refund doesn't post in time.

Note that a state tax payment and refund in the same year will not cause taxable income (although I think the IRS processors have better rates).
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Old Feb 17, 23, 9:08 am
  #153  
 
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Originally Posted by findark
It's definitely not for everyone - I would not be able to file a return that early, and regardless you should be prepared for the possibility that the refund doesn't post in time.

Note that a state tax payment and refund in the same year will not cause taxable income (although I think the IRS processors have better rates).

Do NOT do this with a state! State tax refunds can possibly be considered taxable income while the payment will not be tax deductible or will be capped.
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Old Feb 17, 23, 10:24 am
  #154  
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Originally Posted by sydneyracquelle
Do NOT do this with a state! State tax refunds can possibly be considered taxable income while the payment will not be tax deductible or will be capped.
A state tax refund is only taxable to the extent that it is a refund of a payment that was deducted in a prior year.
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Old Feb 17, 23, 10:38 am
  #155  
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Originally Posted by sydneyracquelle
Do NOT do this with a state! State tax refunds can possibly be considered taxable income while the payment will not be tax deductible or will be capped.
Originally Posted by findark
A state tax refund is only taxable to the extent that it is a refund of a payment that was deducted in a prior year.
However there is the so-called SALT cap of $10k on deducting local/state/property tax from your federal return.

EDIT: or are you saying that the taxable part of the refund will be similarly capped?
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Old Feb 17, 23, 10:46 am
  #156  
 
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When does this 15% off expire, or has this not been announced? Apologies if it has been, as I couldn’t find it. Thanks!
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Old Feb 17, 23, 10:51 am
  #157  
 
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Originally Posted by audidudi
When does this 15% off expire, or has this not been announced? Apologies if it has been, as I couldnt find it. Thanks!
As of now never. But Amex could always change its mind.
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Old Feb 17, 23, 10:51 am
  #158  
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Originally Posted by audidudi
When does this 15% off expire, or has this not been announced? Apologies if it has been, as I couldn’t find it. Thanks!
It is a permanent benefit (or as permanent as anything can be).

Originally Posted by Zorak
However there is the so-called SALT cap of $10k on deducting local/state/property tax from your federal return.

EDIT: or are you saying that the taxable part of the refund will be similarly capped?
Yes, the refund is only taxable if it was meaningfully deducted in the prior year.

If you made the payment in the same year you received the refund, the refund is never taxable (it directly offsets the payment).

If you receive a refund of SALT payments that were subject to the SALT cap, only the excess of the refund (if any) over the reduction due to the cap is taxable (so e.g. paid $20k of SALT, itemized, received refund of $5k - none is taxable). See also Publication 525, page 27.

However, this should all be moot unless someone knows of a state that charges less than 1.87% for CC payments.
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Old Feb 17, 23, 1:15 pm
  #159  
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I’m lost. What do income tax payments have to do with the 15% discount?
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Old Feb 17, 23, 1:23 pm
  #160  
 
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Random data point on the theory DL is jacking up rates so the 15% does not matter.

First flight booked after promo. Short east coast flight over a weekend with almost no flexibility.

Cash ticket was $303
SM was 18,200 + $17 after 15% discount

Looks like a redemption rate of almost $0.016 to me.
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Old Feb 17, 23, 1:40 pm
  #161  
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Originally Posted by kale73
Im lost. What do income tax payments have to do with the 15% discount?
Nada. It is about bragging about how much you can charge and earn.
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Old Feb 17, 23, 2:19 pm
  #162  
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Originally Posted by exwannabe
Random data point on the theory DL is jacking up rates so the 15% does not matter.

First flight booked after promo. Short east coast flight over a weekend with almost no flexibility.

Cash ticket was $303
SM was 18,200 + $17 after 15% discount

Looks like a redemption rate of almost $0.016 to me.
Posted in other places, but there seems to have been an increase for international D1 awards, but not so much other awards.

BOS-LHR had been available from 148K roundtrip D1 before program (documented in other posts), and now starts at 220K miles roundtrip before discount. JFK-MAD/BCN had been going for as low as 230K roundtrip before, and now starts at 310K and 350K, respectively.
https://www.flyertalk.com/forum/34965275-post1824.html

Plenty of other D1 routes where there looks to have been a noticeable increase and where awards are only slight better than 1 CPM after discount.

Last edited by xliioper; Feb 17, 23 at 7:53 pm
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Old Feb 18, 23, 8:00 am
  #163  
 
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15% benefit, what a joke....
I'm looking for Delta One award space to ATH with flexible dates late September/throuhout October with flexible origination in the midwest, even positioning elsewhere such as DC area, JFK, BOS or ATL. In less than a week, D1 redemption have increased 350k across the board from 10 different destinations to ATH. I've been flying this route and booking D1 point redemptions for this route for years. Have never seen anything like this previously. Almost every RT route is 750k.
Hey Delta....no thanks. I'm not that desparate
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Old Feb 18, 23, 9:36 am
  #164  
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Originally Posted by buckeye91
15% benefit, what a joke....
I'm looking for Delta One award space to ATH with flexible dates late September/throuhout October with flexible origination in the midwest, even positioning elsewhere such as DC area, JFK, BOS or ATL. In less than a week, D1 redemption have increased 350k across the board from 10 different destinations to ATH. I've been flying this route and booking D1 point redemptions for this route for years. Have never seen anything like this previously. Almost every RT route is 750k.
Hey Delta....no thanks. I'm not that desparate
If you are able & willing to reposition to MEX, you can find partner (KLM, AF) RT J awards as low as 235K and DL as low as 320K.
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Old Feb 18, 23, 10:02 am
  #165  
 
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Originally Posted by kale73
If you are able & willing to reposition to MEX, you can find partner (KLM, AF) RT J awards as low as 235K and DL as low as 320K.
Always wondered what the Dos & Donts of positioning were. Wasnt successful finding much on a search. I lost out on some good redemption opportunities last week because I was on the fence about driving to LAX.

Nesting an international trip in between a domestic round trip isnt violating any COC rules? Or are you supposed to do a one-way, then the trip you actually want to take, and a final one way to get home from your positioning airport.

If the nesting thing is okay, are there any other things not to do so you dont violate anything to where they cancel your ticket?
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