Should You Pay Taxes with Credit Card? 2024
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- Опубликовано: 4 июл 2024
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Did you know that the IRS can help you earn credit card points? In this video, we'll go over the fees, possible benefits, and how to calculate if paying taxes with your credit card maximizes your points.
💬 Comment if you have any questions!
📕 Chapters
00:00 Intro
00:24 Fees for Paying Taxes with a Credit Card
01:41 Welcome Bonuses
03:19 Unlock Credit Card Benefits
03:56 Credit Cards to Pay Taxes With
04:11 Personal Credit Cards
05:34 Business Cards
07:06 Additional Tips
07:44 Closing
Thank you so much, Max!
You’re welcome!
Have had the VX for a bit now! Highly recommend, even if you just travel 1 time a year!
Ive started to do this. Great way to meet the spend & get those ppints.
Great video! Thank you
Hey Max, I really appreciate your videos. Do you think you can make a video about 1040-ES? Understanding this is basically required to do this paying taxes with credit cards game. Thank you!
Can you do a video about cards with yearly spend bonuses? Like FNC with Hilton Biz?
All that time I thought you are from Canada 😂😂 Thank you for another great video 👏
Hahah yeah a lot of people think I’m Canada based
You should add your excel file to share with everyone . It would be fun to use it and adjust it for my situation
Great vid Max! Currently trying to pay my federal taxes and workin on the amex biz gold and blue biz cash SUB. How can I "split payments across multiple cards" like you mentioned in this vid on the 3rd party payment of the IRS. Doing 2 transactions w both cards instead of just one transaction?
Hey Max! What's that black stock trading art piece called?
me and my wife got declined trying to get Marriott Boundless recently 😔. I did signed up for 2 hiltons which are the Aspire and also Honors last year around april.
I'd still charge my property tax on credit cards, just confused between CSR vs. Venture X every time.
Thank you for another great video.
I’m confused…why wouldn’t you charge it on venture X that gives you 2x?
Maybe the hotel points / perks and benefits! Some cards offer free night certificates and status if hit spend requirements
Even at 75-80k net, you will pay at least $8-9K
Hi Max, what payment processors do you use? Trying to decide on one of the 3rd party payment processors. I just did a google search on them and seem to have scary reviews.
Should I use my American platinum card to pay my taxes ?
Should I pay my statement balance or pay in full for my credit card, and why?
So can I pay my taxes (W2+Real estate) with a business credit card?
Can I pay taxes with like multiple cards say I wanna pay 2k for my amex gold and then the rest on another card is that possible? I just wanna get my sign up bonus please help me quick brotha
So is it OK to assume you can use the American Express gold charge card to pay your taxes and have it go towards the minimum spend for the welcome bonus?
Yes! The benefits outweigh the fees
$20k in taxes owed is a huge amount. Hopefully you're not paying underpayment fees to the IRS, which can skew the points your receiving by paying with a credit card
I don’t owe $20k it’s just a use case scenario 🙂
It’s not really a lot if you own a business.
@@nisomer agreed
I usually owe 20k and have the maximum amount withheld.
Amex is Ok at using the CC to pay for taxes and counting towards intro bonus. Capitol one does not allow it. I asked!!
Capital One and Amex does allow it
@@MaxMilesPoints Interesting. I was gonna apply for the business venture x and use my tax payment to qualify for the intro bonus and was told by the rep they DO NOT allow tax bills as qualifying purchases for intro bonus purposes.
@@dgasmd1 I haven’t seen it in writing and it’s not mentioned in the card terms. I haven’t see any data points on anyone being denied their bonus because they paid with the capital one venture X or venture X business. I am also considering getting the venture X business for my tax bill
@@dgasmd1Reps are always wrong. 😅
@@MaxMilesPointshmm interesting i remember chatting with amex last year and they said tax payments don't count towards sign up bonus spend and saw it written somewhere. that being said i'm not sure if i would have received it anyway as i already had charged my amex on it (i was calling to see how much more spend i needed) and spent the remaining difference minus the tax payment. (gold amex business)
What about those on w2
If you owe taxes even with a w2 job you can still pay taxes with a credit card
@@MaxMilesPoints Also interested on how you would be able to do that. Do you have to request your employer to not deduct taxes automatically?
@@Karan10120 that’s for you and your tax guy to discuss what the best strategy would be
if i owe 700k in taxes not sure how they will let me put that on any cc besides a black card
Split it amount multiple cards , don’t think you’ll be able to get all 700k though so maximize where you can.