Some of the math is flawed with the fee% and cash back%. A $100 bill with a 2% fee would charge the card $102. If the card had a 4% cash back rate, the cash back would be $4.08. The effective rate is higher because of the 2% fee which essentially causes a small increase in rewards and lowers the negative impact of the 2% fee.
If you change your withholdings, if you were taxes will be taken out of your paystubs. If you typically receive a refund when you file your tax returns, making this change may have you owe money. All of the strategies on this video are for people who owe money when they file their tax returns.
Well timed video!! Thank you. I also live in NY. Do you know if NY has a CC tax payment system, or did you just use Plastiq since you had enough fee free dollars?
Be careful. The IRS is not dumb and the government needs money all year. If you don’t pay enough (90%) of your bill, you will pay underpayment penalties unless you hit the safe harbor based on the previous year tax bill. The penalties will wipe out any profit from this system. You can pay quarterly payments with a card, but know what you are doing or hire someone who does.
All these credit card jockeys look at all the work you have to do to make a few $100 you're better off building your business and getting out there and getting busy I could make that money in a couple of hours it's not worth all the muss and fuss.
Libertarianism in practice is expensive though, just like how it costs more to be poor in America. It’s a utopia to enjoy the freedom of a weak state along with the security of a strong one; the lack of personal consequences means strongmen entrench themselves and violence becomes the vehicle of social mobility. How this plays out in the real world is most like the low-tax weak-state libertarian paradise of Subsaharan Africa, which is riddled with “fees”, “tips”, and bribes. Haiti is the most dramatic example of power devolving down to local communities (i.e. gangs), which reflects in the jump of prices for everyday items due to all the “tolls” being paid now that the government lacks the power to keep all the roads open to all.
I did exactly that for my families property tax. Used my United club card and got my 90K bonus because of it
Thanks for the video. I applied for both Hyatt cards to pay for our taxes this year 🎉 makes paying for taxes that less painful
Paid the property tax with the business southwest card & earned the companion pass
It’s possible to buy Amtrack tickets with Amex points … you should make a video … lot people is traveling in trains now .. thanks
Good examples...practical and reasonable...that the everyday Joe can apply
Thank You for the Hilton card tip.
But…. Be careful! Many towns charge a 3% plus “convenience “ charge to use your credit card.
Right, that is basically what this video is about, how to pay taxes, with a fee, and still make money
P2 strategy as well. Refering them! Bonus on top
Some of the math is flawed with the fee% and cash back%. A $100 bill with a 2% fee would charge the card $102. If the card had a 4% cash back rate, the cash back would be $4.08. The effective rate is higher because of the 2% fee which essentially causes a small increase in rewards and lowers the negative impact of the 2% fee.
Anyone know how this would work for a w-2 employee? My boss just takes it out of my paycheck. I believe that’s required by law for an employer to do.
If you change your withholdings, if you were taxes will be taken out of your paystubs. If you typically receive a refund when you file your tax returns, making this change may have you owe money. All of the strategies on this video are for people who owe money when they file their tax returns.
Well timed video!! Thank you. I also live in NY. Do you know if NY has a CC tax payment system, or did you just use Plastiq since you had enough fee free dollars?
How do you avoid underpayment penalty to IRS?
You can use a credit card for estimated taxes throughout the year too
0.18%. !? Is not 18%.
If one’s employed, is there a way to tell your employer not to withhold taxes and that you’ll just pay it yourself?
yes, my employer doesn't withhold taxes, just ask hr or your boss if at a small company.
@@michaelsmith953 thanks! I’ll give this a shot. Quite the adjustment though.
@@michaelsmith953isn’t there a penalty if you don’t pay enough? I’m a W-2 employee and apparently my boss is required to hold my taxes. Not sure why
Be careful. The IRS is not dumb and the government needs money all year. If you don’t pay enough (90%) of your bill, you will pay underpayment penalties unless you hit the safe harbor based on the previous year tax bill. The penalties will wipe out any profit from this system. You can pay quarterly payments with a card, but know what you are doing or hire someone who does.
@@tylern3696 Very good points. Thanks for letting me know!
Sweet!
Ben kinda reminds me of that guy who plays spiderman
Andrew Garfield
Anything like this possible in the uk?
probably not since the credit card reward rates in the uk are atrocious
All these credit card jockeys look at all the work you have to do to make a few $100 you're better off building your business and getting out there and getting busy I could make that money in a couple of hours it's not worth all the muss and fuss.
Noice
I smell fellow libertarian. ;)
Libertarianism in practice is expensive though, just like how it costs more to be poor in America. It’s a utopia to enjoy the freedom of a weak state along with the security of a strong one; the lack of personal consequences means strongmen entrench themselves and violence becomes the vehicle of social mobility.
How this plays out in the real world is most like the low-tax weak-state libertarian paradise of Subsaharan Africa, which is riddled with “fees”, “tips”, and bribes. Haiti is the most dramatic example of power devolving down to local communities (i.e. gangs), which reflects in the jump of prices for everyday items due to all the “tolls” being paid now that the government lacks the power to keep all the roads open to all.
@@doujinflip the average IQ in Haiti is 67 and Subsaharan is less than 80 but thanks for your big brain response.