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Point Me To First Class

6. Paying Your Taxes by Credit Card (Part 1)

Point Me To First Class

Devon Gimbel MD

Finances, Education, How To, Travel, Credit, Expenses, Card, Cards, Society & Culture, Professionals, Tips, Personal, Places & Travel, Business, Points, Rewards

51K Ratings

🗓️ 10 April 2023

⏱️ 21 minutes

🧾️ Download transcript

Summary

If you’re a high-earning professional or a self-employed business owner, your tax expenses represent an enormous points-earning opportunity that you may not even be aware of. So, tune in this week to start evaluating whether this doing so is the right decision for you, the fees involved, and the potential payoffs in the form of credit card points. Be sure to come back next week for part two, where I’ll be sharing the specific cards that will allow you to maximize your rewards.

Get full show notes and more information here: https://www.pointmetofirstclass.com/blog/paying-taxes-credit-card

Transcript

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0:00.0

Welcome to Point Me to First Class, the only show for employed professionals, entrepreneurs,

0:06.2

and business owners who are looking to optimize their higher than average expenses to travel the world.

0:10.8

I'm your host, Stephen Kimballimble and I believe that your expenses are your

0:13.9

greatest untapped asset if you know how to leverage them. Ready to dive into the world

0:18.8

of credit card points and miles so you can travel more, travel better, and travel often.

0:23.0

Let's get started.

0:24.0

Hey everybody, I am so excited about today's

0:30.0

podcast episode because this is a very special time of the year at least if you're based in the US.

0:39.0

Now if you're listening to this episode in real time it is Monday, 10th which means that if you're based in the

0:45.3

US or if you're a US citizen lucky enough to be living abroad it is almost tax day

0:51.2

the annual day on which your income tax returns are due to be

0:55.1

submitted to the US government and at which time you may or may not have the

0:59.7

lovely experience of having to make a tax payment to the IRS. Now, depending on your

1:04.9

circumstances, you may have a few additional tax days throughout the year if you

1:08.8

pay quarterly estimated taxes like my family does. But almost all of us will be filing taxes and

1:14.8

possibly having a tax payment due in a few short days on April 18th. And one

1:19.8

thing that has greatly lessened the sting of paying taxes and sometimes a lot of taxes for me

1:26.3

has been the opportunity to earn points, potentially a lot of points by making tax payments using a points earning credit card.

1:35.4

And the opportunity to earn hundreds of thousands of extra points a year by paying our taxes

1:40.6

with points earning credit cards first became apparent to me around 10 years ago

1:45.2

when my husband became self-employed and it seemed like we went from paying a lot of taxes once a year

1:51.2

to paying a lot more taxes four times a year compared to when we were

...

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