calwatch

I've found that I'm not spending the points fast enough. So I'll MS for signup bonuses but nothing else. I just got an OBC thinking of using the post office as a means of liquidation but that is obviously gone, but if I find something I'll hit it hard.

MannyCPA

Laziness is my primary reason. Vanilla, Blue Bird, Serve, Red, churning, etc. was easy. I hauled in 6M points in 3 years. That's not doable today.

And to be fair between work, personal spend, Staples/Ink, and Sapphire I'm hauling in 50K points a month, which is more than what I can spend.

Additionally, today's lucrative MS/churns/hacks/etc. are increasingly well guarded and require a significant investment into the community - I have no time for that.

lincoln boy

So there are secret nice ways of MS now??

sdsearch

The OP was lumping together MS and churning and hacking and "etc".

I can't answer for sure, but the main problem with MS these days (due to things like the PO no longer accepting Visa/MC gift cards for MOs and more and more Walmart not working for that either) is that what works may depend on where you are as much as what you know. So if people in this ciommunity are not willing to share their locations publicly, that alone is too secretive now that the many of the same gift card -> cash techniques no longer work nationwide.

The other example I can think of that the OP was referring to about things being secretive on FT is with churning, not with MS. For some cards, every time a link is made public, it dies within days, so links for some cards are now distributed only through PM, but you have to keep up with posts in the thread about the card you're interested in just to know who to PM. In that case, it's secretive to keep it away from banks who might be looking around FT for links they don't want the public to have access to and shutting them down if they find them in a wikipost.

tuphat

If whales start going big at your WM, it will only be a matter of time before your WM shuts it down. Exhibit A: what happened at Tysons WM recently.

ibleed0range

We have been going there for YEARS. You should have stepped up your game.

AlohaDaveKennedy

Always have been. But it is all YMMV. The rats will never get all the cheese according to Kennedy's Law, which states that only three things are certain in this world, death, taxes and that internal controls fail over time.

tuphat

Let me get this straight: you and your friends are PLEASED that you eventually burned this location? Part of your grand strategy?

ibleed0range

didnt burn anything. Woulda been happy if it lasted another 7 years so i could waste An hour for one transaction. Go collect your gas points now, the promo is Almost over

AlohaDaveKennedy

Anyone stop MSing for large sign on bonuses because they could not pay estimated taxes for a fee equal to or under what the service charge was net of the card transaction or sign on reward? If you didn't stop at the end of 2017, do you intend to stop at the end of 2018?

tuphat

Your post doesn't make sense. You know that over-the-top usage by you & your friends burned this location, there's no denying that fact.

GetawaysRus

I'm having a little trouble fully understanding the question, but if I do, it's a good question. Here is what I think you are asking:

In the beginning (up through 2017), the fees for paying personal estimated taxes with a credit card were potentially deductible as a miscellaneous itemized deduction on Form A. That reduced the cost of paying estimated taxes as a way of meeting minimum spending requirements. And with AmEx cracking down on "gaming," paying estimated tax using a credit card became even more attractive.

However, if I understand correctly, under the just approved GOP tax bill, those fees will no longer be deductible beginning in 2018. Since the fees for paying estimated taxes are in the range of 2%, you would now need to get at least that much benefit (and hopefully a lot more) from the points you would earn if you use estimated taxes as a way of meeting minimum spend. So let's say you have a shiny new credit card with a $5000 MSR. The fee for paying 5K in estimated taxes would be $100. The points/miles you get from meeting the minimum spend on that card would need to be worth more than the fees you are paying.

A related question is paying estimated taxes by credit card for other MS goals. For example, the AmEx SPG card awards SPG (and Marriott) Gold status if you spend $30,000 in a year. Was that worth it in the past? For those who value SPG status, perhaps it was worth it, especially if the fees were deductible. Will it be worth it in 2018? I think the calculation gets a lot harder if those fees are not deductible.

Notice that I am discussing paying personal estimated taxes. I have read that the GOP tax bill is about 1,100 pages long. I've seen highlights of the bill on the web. But I haven't read anything about whether fees for paying business estimated taxes might be deductible in 2018.

AlohaDaveKennedy

Oh, it is a good question. Two percent will figure the answer.

tuphat

@getaways -- Your question is convoluted by your mixed & incorrect use of various terms that have specific meanings to tax professionals, but if what you are asking is:
How does the $10k aggregate limit on deducting property tax and state/local income tax apply to taxes incurred in a trade or business?
Then the answer is: The limit does NOT apply to real/personal property tax incurred in trade/business. The limit DOES apply to state/local income taxes incurred in a trade/business.

Also: The statutory prohibition against prepaying 2018 taxes in 2017 applies only to state/local INCOME taxes. The IRS news release that purportedly extends/applies a similar limit to prepayment of 2018 PROPERTY taxes is WRONG.

EL3V3N

Returns became too skinny, almost not worth it anymore.