Maximizing Points from Tax Payment
#2
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 4,649
If your taxing entity allows you to pay with MOs, then your cost if using SMGCs and WM is around 0.8%. So you can do your own calculations as to the value of your points generated by paying with MOs. I think that without special situations (such as fee-free GCs), the costs only rise outside of SMGCs and WM MOs.
On the other hand, if you are paying Federal taxes, they will let you pay with a CC but there is a "convenience fee" which can be (as I read it) as high as 2.3% of the principal. When your taxes are high that means you are paying lots of cash for your points.
However, it's your call to decide if it is worthwhile for you.
#3
Join Date: Feb 2012
Location: The place where it gets so hot in the summer some planes can't take off.
Programs: Marriott LT Titanium, WoH Globalist, National EE, United Platinum
Posts: 1,169
I just paid my taxes with a new card to hit minimum spend for bonus (will actually pay again in March with another card and hit 2x min spend). It's going to cost me an extra $70-80 or more vs buying debit on sale at OM/[email protected] or doing the SM route and paying with those, but it gives me peace of mind that I can work with CC company if there is any issue with payment.
Have you thought of opening something new up (Airline card/hotel card/etc..) that you can use for this spend?
Have you thought of opening something new up (Airline card/hotel card/etc..) that you can use for this spend?
#4
A FlyerTalk Posting Legend, Moderator: American Express, Citi, Diners Club, Signatures
Join Date: Jun 2003
Location: Miami & London
Programs: AA & Marriott Perpetual Platinum; HH Gold
Posts: 41,697
Extensive discussion here:
Paying USA income, property or other taxes with a credit card
Unless you are overpaying, this isn't Manufactured Spending.
Paying USA income, property or other taxes with a credit card
Unless you are overpaying, this isn't Manufactured Spending.
#5
Original Poster
Join Date: Dec 2018
Posts: 24
I just paid my taxes with a new card to hit minimum spend for bonus (will actually pay again in March with another card and hit 2x min spend). It's going to cost me an extra $70-80 or more vs buying debit on sale at OM/[email protected] or doing the SM route and paying with those, but it gives me peace of mind that I can work with CC company if there is any issue with payment.
Have you thought of opening something new up (Airline card/hotel card/etc..) that you can use for this spend?
Have you thought of opening something new up (Airline card/hotel card/etc..) that you can use for this spend?
So your suggestion makes sense. What cards did you sign up for?
#6
Join Date: Feb 2012
Location: The place where it gets so hot in the summer some planes can't take off.
Programs: Marriott LT Titanium, WoH Globalist, National EE, United Platinum
Posts: 1,169
#8
Join Date: Feb 2012
Location: The place where it gets so hot in the summer some planes can't take off.
Programs: Marriott LT Titanium, WoH Globalist, National EE, United Platinum
Posts: 1,169
In your case it makes sense to get 3-4 cards that have $3000 MSR to maximize things.
#9
Join Date: Mar 2007
Location: S Cal
Programs: AA Lifetime Plat, United Silver, Marriott Plat, IHG Plat, Hilton Gold, Club Carlson Gold
Posts: 1,119
2 questions:
1. Does anyone know if you can use Simon Mall VGCs to pay estimated taxes online at Official Payments, Pay USA Tax, and Pay 1040?
2. When does the window for paying 3rd quarter Federal estimates online open? Is it August 1 or August 15, or some other date?
1. Does anyone know if you can use Simon Mall VGCs to pay estimated taxes online at Official Payments, Pay USA Tax, and Pay 1040?
2. When does the window for paying 3rd quarter Federal estimates online open? Is it August 1 or August 15, or some other date?
Last edited by GetawaysRus; Aug 1, 19 at 8:54 pm
#11
Join Date: Mar 2016
Location: North Texas
Programs: SWA A-List, Marriott Platinum, Hilton Gold
Posts: 176
2 questions:
1. Does anyone know if you can use Simon Mall VGCs to pay estimated taxes online at Official Payments, Pay USA Tax, and Pay 1040?
2. When does the window for paying 3rd quarter Federal estimates online open? Is it August 1 or August 15, or some other date?
1. Does anyone know if you can use Simon Mall VGCs to pay estimated taxes online at Official Payments, Pay USA Tax, and Pay 1040?
2. When does the window for paying 3rd quarter Federal estimates online open? Is it August 1 or August 15, or some other date?
2) Q3 deadline is 3rd payment ................. Sept. 16, 2019.