Tax

Posted Nov 8, 2021 Updated Jun 10, 2024

By Grace L

6 min read

Tax

how to file

Filing electronically (e-filing)
IRS Free File FREE
1. Direct File FREE (not itemize)
2. Guided Tax Software FREE
  1. adjusted gross income is $79,000 or less
3. Fillable Forms
  1. E-file federal tax forms using form instructions
  2. Available for any income level
  3. No guidance and limited calculations provided
  4. No state tax preparation and filing
IRS-certified volunteers
Tax preparation software
Tax professional
Paper forms

Pay Taxes by Card

Will Paying by Card or Digital Wallet Work for You?
- You can pay online or over the phone
- You can pay using digital wallets such as PayPal and Click to Pay
- There’s a maximum number of card payments allowed based on the tax type and payment type
  - You can only apply debit card, credit card or cash payments to certain forms, payment types and tax years
  - Individuals:
  - Form 1040 -> Current Tax Due: 2 per year
- Employers’ federal tax deposits cannot be paid by card;
- For card payments of $100,000 or more special requirements may apply
Fees by Processor
- payUSAtax:
  - debit card: $2.14
  - credit card: 1.82% (Minimum fee $2.69)
  - Payment Accepted
    - Debit/Credit Card: Visa, Mastercard, Discover, American Express, STAR, Pulse, NYCE, Accel
    - Digital Wallet: PayPal, Click to Pay
- Pay1040
  - consumer or personal debit card: $2.50 or 1.87%
    - $2.50 flat fee for consumer or personal debit card
    - 1.87% for other debit cards (minimum fee $2.50)
  - credit card: 1.87% (Minimum fee $2.50)
  - Payment Accepted
    - Debit/Credit Card: Visa, Mastercard, Discover, American Express, STAR, Pulse, NYCE, Accel, AFFN, Cirrus, Interlink, Jeanie, Shazam, Maestro
    - Digital Wallet:Click to Pay; PayPal
    - Pay With Cash: VanillaDirect
- ACI Payment, Inc.:
  - debit card: $2.20
  - credit card: 1.98% (Minimum fee $2.50)
  - Payment Accepted
    - Debit/Credit Card: Visa, Mastercard, Discover, American Express, STAR, Pulse, NYCE
    - Digital wallet: PayPal, Click to Pay, Venmo
    - Pay With Cash: VanillaDirect
When you pay while electronically filing the taxes, different card fees apply. (>2.49%)

Checking

360 Checking account

No monthly fees, no minimums and no overdraft fees.

credit card

when it’s 5%, use it.
unlimited 2% on all other purchases
- $15,000 -> $300
- $20,000 -> $400
- $35,000 -> $700
1.5% * 1.75= 2.625%
- $20,000 * 2.625% = 525
- $35,000 * 2.625% = 918 (Unlimited)
3% * 1.75 = 5.25%
- $20,000 * 5.25% = 1050 (max)
- $35,000 * 5.25% = 1837

better than 2%

PayPal Cashback Mastercard® $0

5,000 point ($50)
easy to use for online transactions
Bonus offer: None
Benefits:
- unlimited 3% cash back on PayPal purchases. PayPal also has a bill pay feature and if you use that and use the card you’ll get 3%. $10,000 -> ($300)
- unlimited 2% on all other purchases $15,000 -> ($300)

only 2%

Venture X Rewards $395

75,000 miles after spend $4,000 within 3mon ($750)
Benefits:
- unlimited 10X miles on hotels and rental cars booked through Capital One Travel
- unlimited 5X miles on flights booked through Capital One Travel
- unlimited 2X miles on all other purchases $15,000 -> ($150x2)
- Up to a $100 credit for Global Entry or TSA PreCheck® 2
- unlimited complimentary access for you and two guests to 1,300+ airport lounges, including Capital One Lounges and our Partner Lounge Network.
- Complimentary Priority Pass™ membership
- Elevate every hotel stay from our Premier or Lifestyle Collections with a suite of cardholder benefits like an $50 USD experience credit, room upgrades, late checkout
- Annually $300 Capital One Travel credit (“Credit”) to use toward purchases made through Capital One Travel.
- earn 10,000 bonus miles ($100) after the anniversary each year, starting with the first anniversary

Capital One Venture Rewards Credit Card 95

75,000 miles after spend $4,000 within 3mon ($750)
Benefits:
- Unlimited 2X miles on every purchase, every day
- 5X miles on hotels and rental cars booked through Capital One Travel
- up to a $100 credit for Global Entry or TSA PreCheck®
- hotel stay from the Lifestyle Collection cardholder benefits: $50 experience credit, room upgrades

WF Active Cash® Card $0

$200 after $500 spend in 3mon
Benefits:
- Unlimited 2% cash rewards

Citi Double Cash® Card $0

$200 after $1500 spend in 6mon
Benefits:
- Unlimited 2% cash back: 1% when the purchase, 1% when payment
- limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.

Amex Blue Business Cash™ Card $0

$250 after $3000 spend in 3mon
Benefits:
- 2% cash back up to $50,000/year, then 1%

Chase Freedom Unlimited® $0

EXCELLENT FOR: CASH-BACK PAIRING WITH CHASE SAPPHIRE PREFERRED®
REWARDS RATE: 1.5%-6.5%
INTRO OFFER: additional 1.5% cash back on everything (on up to $20,000 spent in the first year) ($300)
Benefits:
- (on up to $20,000 spent in the first year)
  - 6.5% cash back on travel purchased through Chase Travel
  - 4.5% cash back on drugstore purchases and dining at restaurants and eligible delivery
  - 3% on all other purchases
- (After the first year or $20,000 spent)
  - 5% cash back on travel purchased through Chase Travel
  - 3% cash back on drugstore purchases and dining at restaurants and eligible delivery
  - 1.5% on all other purchases

Chase Sapphire Preferred® Card $95

EXCELLENT FOR: AIRLINE MILES AND A LARGE BONUS
INTRO OFFER: 60,000 bonus points after $4,000 spend in 3mon ($750 toward travel when you redeem through Chase Ultimate Rewards®.)
Benefits:
- 5x on travel purchased through Chase Ultimate Rewards®,
- 3x on dining, select streaming services and online groceries,
- 2x on all other travel purchases,
- 1x on all other purchases,
- $50 annual Ultimate Rewards Hotel Credit
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®.
- complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.

Bank of America® Customized Cash Rewards $0

INTRO OFFER: $200 online cash rewards bonus offer
Benefits:
- 3% cash back in the category (
  - gas and EV charging stations;
  - online shopping, including cable, internet, phone plans and streaming;
  - dining;
  - travel;
  - drug stores and pharmacies;
  - home improvement and furnishings)
  - visa??? ($2,500 each quarter -> 1w/yr)
- 2% cash back at grocery stores and wholesale clubs ($2,500 each quarter)
- unlimited 1% cash back on all other purchases Calculate rewards
- Bank of America Preferred Rewards®: 25% Rewards bonus on eligible Bank of America credit cards
  - 3.75% - 5.25% choice category could earn
  - 2.50% - 3.50% at grocery stores and wholesale clubs could earn , for the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter
  - 1.25% - 1.75% for all other purchases could earn

Stock

wash sale:

A wash sale is when you sell a stock at a loss and within 30 days, before or after the sale, you buy substantially identical stock.
For example, if you sell 30 shares of XYZ Corporation for a loss on March 2, 2023 and you buy 30 shares of XYZ Corporation on March 10, 2023, the sale of the 30 shares of XYZ Corporation on March 2nd would generally be considered a wash sale.

Flight

Vitgin Atlantic

amex 1000MR -> VA 1300 point
- Point:
  - Delta:
    - SEA -> PVG (Shanghai): 49,500 point +$6
    - IAD -> PVG (Shanghai):

Ana

amex 1000MR ->
- Point:
  - NH101:
    - IAD -> Tokyo (Shanghai): Required mileage: 55,000Miles + Total: JPY80,980

https://book.cathaypacific.com/

amex 1000MR ->
- Point:
  - NYC -> London -> Shanghai: 11.5w + 500$
  - IAD -> Tokyo (Shanghai):

life

life finance

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