All the Hacks: Money, Points & Life
Earning Points on Taxes, Navigating Market Volatility, Stacking Deals and More
· Summarized
Key takeaways
- Paying taxes with a credit card can provide opportunities for earning rewards if managed correctly, especially using cards with cash back or sign-up bonuses.
- Teaching children about money through hands-on experiences, such as reselling gift cards, can foster financial literacy and responsibility.
- Stacking discounts and cashback offers can lead to significant savings on big ticket items. It pays to research and combine multiple offers.
- Staying invested with a long-term perspective can mitigate the emotional impact of market volatility; historical trends suggest markets recover over time.
Summary
Maximizing Value from Taxes with Credit Cards
Chris dives into the benefits of paying taxes with a credit card, especially in light of upcoming payment deadlines. He discusses the mechanics of credit card payment services and highlights that fees can range from 1.75% to 3%. If you're using a cash back card or one with a significant welcome bonus, paying taxes with a credit card can yield a positive return. He shares practical insights and considerations for determining if it makes sense for the listener to do so.
Teaching Kids About Money Through Practical Experience
Chris shares a unique approach he took recently with his kids, emphasizing the importance of financial literacy. By taking advantage of a card-linked offer for Lowe's, they purchased gift cards and resold them for a profit. This experience not only taught them about earning income and handling money responsibly but also how to leverage opportunities creatively in the financial landscape.
Leveraging Discounts and Offers for Smart Purchases
The episode includes various tips for optimizing spending through cashback and card-linked offers. For instance, Chris talks about the exciting potential to stack offers during the Peloton purchase process, achieving a significant discount by combining loyalty points and cashback. This section encompasses practical advice on how to navigate different platforms for maximum savings.
Navigating Market Volatility and Investment Strategies
As the stock market faces recent declines, Chris shares his investment philosophy focused on long-term horizons. He emphasizes the importance of not reacting impulsively to market drops, as history has shown that markets tend to recover over longer periods. Chris discusses strategies he employs during volatile times, including deploying cash for investments in increments to avoid market timing risks.
Sponsors
- FASIT · FASIT makes professional financial advice accessible to everyone, charging a flat annual membership fee instead of a percentage of assets. They offer guidance across various financial areas including retirement planning and tax strategy.
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- Gelt · A modern CPA service that provides personalized tax guidance to maximize savings and minimize risks for personal and business taxes.
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Show notes
#222: Discover how paying taxes with a credit card can unlock huge rewards—or even turn a profit. Chris also shares how he's handling the current market decline and shares practical tips for teaching kids about money, stacking card-linked offers, and using VPNs for big savings.
Link to Full Show Notes: https://chrishutchins.com/pay-taxes-with-credit-card-2025-musings
Partner Deals
Facet: Personalized Financial Planning + $250 enrollment fee waived
Storyworth: Share your mother's stories in a custom book (+ $10 off)
Vuori: 20% off the most comfortable performance apparel I've ever worn
Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth
LMNT: Free sample pack of my favorite electrolyte drink mix
For all the deals, discounts and promo codes from our partners, go to: chrishutchins.com/deals
Resources Mentioned
Credit Cards
Best Cards Page
100k Welcome Bonus Offer
IRS Authorized Payment Providers: Pay1040 | ACI Payments
Business Payment Platforms: Plastiq | Melio
Flight Tracker: Flighty
CardPointers Pro: 30% off here
Rakuten: $30 bonus here
Savewise: 20% off with ALLTHEHACKS20
Kudos: $20 bonus here
Hyatt Offer: $100 Off Peloton
NordVPN
Ben Carlon’s Chart: 31 Years of Stock Market Returns
Wealthfront: Get $5k managed free and get a 0.5% APY boost
ATH Podcast
Ep #59: Save Money, Build Wealth and Just Keep Buying with Nick Maggiulli
Ep #194: The Simple Path to Wealth and FU Money with JL Collins
Newsletter
Deals Page
Leave a review: Apple Podcasts | Spotify
Email for questions, hacks, deals, and feedback: podcast@allthehacks.com
Full Show Notes
(00:00) Introduction
(02:20) Quick Reminder About Upcoming Tax Payments
(03:39) Why and When You Should Pay Taxes on Your Credit Card
(08:08) Paying Taxes on a Credit Card to Leverage Welcome Offers
(09:22) How to Maximize a Credit Card Welcome Bonus of 100K
(13:26) Three Tips from a Recent Trip to Colorado
(18:39) A Great Way to Teach Kids About Money and Make a Profit
(22:13) Stacking Offers to Get 30% Off Peloton Bikes
(28:07) How to Use a VPN to Find Better Deals
(29:55) Why It Might Be Cheaper to Pay with Different Currencies
(31:52) The Recent U.S. Stock Market Decline
(38:53) Chris' Personal Strategy for the 10% Market Drop
(40:50) The Importance of Diversifying Your Portfolio
(42:12) Tax Loss Harvesting and Why It's a Good Time to Consider It
Connect with Chris
Newsletter | Membership | X | Instagram | LinkedIn
Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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