photo credit: tryingteaching.com
Hopefully you’re getting, or have already received, a refund rather than having to pay up! If you end up owing money this year to Uncle Sam, have you ever thought of earning some Delta Skymiles with your payment? The IRS allows payments by credit card and has a helpful table to show you what rates their payment processors charge as “convenience fees” for various forms of payment.
The Points Guy has a pretty comprehensive post on how to evaluate whether the miles are worth the fees. When it comes to state and local taxes, the rules vary by state and you should check your state’s Dept. of Revenue page to see what you can do where you live.
Need some deduction ideas? While I’m no tax professional and you should absolutely check with your own tax professional on any and all tax related matters, here are a few things you might consider.
If you have a ton of Skymiles sitting around and you’re thinking, “Hey, I know, I’ll donate miles to a charity for a tax deduction!” Think again! While Delta offers miles donation to SkyWish charities, these are NOT tax deductible! The only way I can think of making this possibly work as a deduction would be to go to the Skymiles Marketplace and convert your miles into gift cards and then give those gift cards away.
Ever thought of collecting the hotel amenities – shampoo, soap, combs, etc. – and then donating these to a shelter or other charity? Million Mile Secrets has a great post about this. Again, I’m not a tax professional so check with yours to see if this is something you may be able to count as tax deductible.
Do you keep track of your Goodwill donations? My wife and I both really dislike the process of having a garage sale, so we give everything we can to Goodwill, track it all, and take the deduction. I can find much better things to do on Saturday mornings than barter over 50¢ at 7:00am for a toaster I no longer use! You can check the values of items here at Goodwill.com.
Also, if you are flying today, you can maybe get some FREE food today at Panda Express inside airports like ATL, JFK, IAH and BWI to name a few:
So there you are, my non-tax-professional 2¢ worth of helpful ideas for the miles angle of your taxes! If not at least you can get miles or MQM’s with my link below! Happy filing :-) – René
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