Some one told me for example that if you earn 1 mile for every 2 cents of fee (which is usually 3% of the tax paid) then you are break even. I am confused.
What is the minimum amount of tax where it would be justified to pay by credit card, assuming I am getting 1 airline mile for every dollar spent?
2007-04-12 09:14:11 · 2 answers · asked by paanbahar 4 in Local Businesses ➔ United States ➔ Other - US Local Businesses
The formula is: 1 income tax bill + 1 load of credit card interest = Retarded.
2007-04-12 10:47:22 · answer #1 · answered by Jim B 4 · 0⤊ 0⤋
When you pay off the amount of credit before you have to pay any interest is when it is justified. Basically, a month deferment from not paying for taxes gives you some extra time before creditors starts billing. Paying it all off before any interest starts stacking is better for your credit and for you - Extra incentives with mileage and a month deferment from paying taxes.
2007-04-12 16:29:24 · answer #2 · answered by kattymckatty 3 · 0⤊ 0⤋