56. Making Taxes Part of Your Points Strategy

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

5 • 1K Ratings

🗓️ 25 March 2024

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tune in to today's update on paying taxes with a credit card to hear how this annual expense can play a crucial role in your points strategy. If you’re a high-earning employed professional or a self-employed business owner, your tax expenses offer an enormous points-earning opportunity.

Discover whether it makes sense for you to pay your taxes by credit card, how to strategize the best points earning card for your tax expense, and the top mistake you want to be sure to avoid so your tax points earning plans don't get derailed.

Don't forget to grab your own tax points earning calculator here to make calculating your tax payment points earning potential a breeze:
https://www.pointmetofirstclass.com/blog/taxes-points-strategy

Need more personalized help constructing a points earning plan for your tax payments and other annual expenses? Then you'll want to join me inside the Points Made Easy course during our next enrollment. Save your spot on the course waitlist here:
https://www.pointmetofirstclass.com/pointsmadeeasy

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
0:18.9	of credit card points and miles so you can travel more, travel better, and travel often.
0:23.0	Let's get started.
0:25.0	Hello everybody and welcome back to the podcast.
0:31.0	For those of you listening to this episode in real time, it is Monday, March 25th, which means
0:36.0	that if you are based in the US or are a US citizen living out my dream of living abroad,
0:41.8	then you are quickly approaching a very important time in
0:44.4	our financial lives. And that is tax time. I have all sorts of thoughts about how taxes work in
0:50.3	the US, what our tax money gets used for that I wish it wouldn't, and all the myriad
0:55.0	social services that I wish our tax money supported but doesn't, but that's not really
0:59.2	relevant or probably of any particular interest to you all.
1:02.1	But regardless of what any of us thinks about paying taxes,
1:05.4	my perspective is that if it's something we're going to have to pay,
1:08.6	and especially if our tax bill is high,
1:11.2	then we may as well take advantage of the opportunity to earn as many
1:14.4	points as possible. Paying taxes represents probably the single largest overhaul
1:19.7	expense that I have on an annual basis and so it plays a crucial role in my points plan and if
1:25.7	you're a high-earning employed professional or a self-employed business owner your
1:30.3	tax expenses can represent an enormous points earning opportunity for you as well.
	...

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