5K miles per month

Old Mar 10, 13, 9:47 pm
  #16  
 
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Originally Posted by tiladam View Post
I've spent the entire day reading all the threads and everything people have posted about the topic no longer works. Am I missing something?
This may be an obvious answer - yes you are.
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Old Mar 10, 13, 9:53 pm
  #17  
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I'm new at all this - sorry guys.
Will anyone PM and fill me in?
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Old Mar 10, 13, 9:55 pm
  #18  
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Originally Posted by tiladam View Post
I'm new at all this - sorry guys.
Will anyone PM and fill me in?
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Old Mar 10, 13, 10:34 pm
  #19  
 
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I'm sure US Airways would be happy to manufacture you 5000 miles per month. The only raw materials needed are a valid CC number.
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Old Mar 10, 13, 10:37 pm
  #20  
 
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Originally Posted by tiladam View Post
I've spent the entire day reading all the threads and everything people have posted about the topic no longer works. Am I missing something?
You do realize people join this site and read for a month or two before posting correct? I know that's not the norm now but there was a time when research was valued around here...
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Old Mar 10, 13, 10:41 pm
  #21  
 
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Has anyone tried just calling the airlines and asking? After all, they mint the miles, so they should tell us how to get them basically for free, right?

Maybe we can each call a few airlines tomorrow and report back, k?
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Old Mar 10, 13, 10:50 pm
  #22  
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Originally Posted by josephstern View Post
Has anyone tried just calling the airlines and asking? After all, they mint the miles, so they should tell us how to get them basically for free, right?

Maybe we can each call a few airlines tomorrow and report back, k?
We should try calling the mint and try the same for some $1 coins.
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Old Mar 10, 13, 11:25 pm
  #23  
 
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Originally Posted by PainCorp View Post
We should try calling the mint and try the same for some $1 coins.
Way ahead of you, already have a shipment next week. Keep this quiet btw.
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Old Mar 10, 13, 11:26 pm
  #24  
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Originally Posted by longhorn11 View Post
Way ahead of you, already have a shipment next week. Keep this quiet btw.
OK, I'll just post it in it's own thread, who could possibly find out? It won't end up on SD or FW, right?
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Old Mar 10, 13, 11:57 pm
  #25  
 
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hahaha the replies to this thread are hilarious.

but seriously man...read up.
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Old Mar 11, 13, 12:25 am
  #26  
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Manufactured Spending & Taxes?

If someone were to figure out a success way to basically move money from the credit card to "a middle man" and then from "the middle man" back to your bank account and do this process over and over again, wouldn't this cause an issue with your bank? And what about taxes? Or does this not make a difference?
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Old Mar 11, 13, 12:34 am
  #27  
 
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Disclaimer: I am not an accountant, and this is just my layman's understanding from reading a number of sources.

The IRS considers credit card rewards a "rebate" on spending, rather than actual taxable income. So in general, the accumulation of credit card rewards does not have any impact on taxes.

The notable exception is for business expenses, where the expenses are written off on your taxes. In that case, the rewards you accrue for your business expenses are deducted from what you're allowed to write off. I'm not sure when, if ever, this rule has been put to the test.

As far as your bank is concerned, your bank can decide they don't like anything they want. If they don't like what you're doing, they can absolutely shut you down. And yes, some of the tactics used to manufacture spend, when taken to extremes, will cause banks to not like you.
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Old Mar 11, 13, 12:38 am
  #28  
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So, for example:

If I use my Airline CC to buy $3,000 worth of reloadable gift cards with a different name on them and then use the gift cards to pay a middle man (which is registered under my name) and then move the money from the middle man back to my bank account and then pay the CC bill, this is okay tax wise you think? (and to do this a few times a month or more).
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Old Mar 11, 13, 12:40 am
  #29  
 
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Use square!
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Old Mar 11, 13, 12:45 am
  #30  
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Have you done this before WPAST?
Also, any word on how this all would affect taxes---if at all?
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