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Can i pay taxes with credit card

I filed my taxes yesterday and chose to pay the taxes using my Chase Freedom credit card instead of direct ACH transfer from my bank account. The CPA was against this as he had mentioned that I’m making a foolish decision by wasting 1.89% towards processing fees. Here is what I explained him that I’d like to share as money saving tip today
1) I applied for chase freedom credit card last month after doing rough math of my taxes. Chase freedom card comes with $150 cash back bonus that can also be redeemed in form of Chase ultimate rewards that can be used for many different purposes including travel. In my earlier post I’ve given full details on why I’m maintaining my Chase Sapphire reserve credit card inspite of paying $450 annual fees. The ultimate reward points that I earn towards meeting this spending limit can be redeemed towards travel 1.5 times its value as ultimate reward points can be combined and transferred from Chase freedom card onto Chase Sapphire card. The equivalent cash value becomes $150 x 1.5 = $225
2) In addition to this I earn 1% cashback on my spending in Chase Freedom credit card
3) Chase freedom comes with 15 months 0% APR on purchases. So, I dont have to repay this amount in full. Typically if I repay the minimum balance with $1 extra every billing cycle for next 15 months it is more than sufficient
4) I can park this money in safe instruments like one-year CD. Currently the average rate on one year CD is 2.10%. With 15 months interest it comes around 2.15% APY
Now, let us do simple math on processing fee and see if we make more
Processing Fee = 1.89%
Income Earned by Parking in CD’s = 2.15%
Cash back rewards = 1%
Cashback rewards + sign-on bonus rewards towards travel = 1.5 times $150 plus your tax bill
As a whole I save 0.50% minimum towards this if I make use of Chase Freedom credit card. You can apply for Chase Freedom credit card and get this approved today. Interestingly there is no annual fee ($0 annul fee) on Chase Freedom credit card

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NRI Invest in India different investment options

NRI, the non-resident of India is the status obtained as soon as a person leaves India and visits a foreign country as a temporary employee, business men with Indian citizenship, student visa (with some exceptions) , temporarily posted in foreign nation by state and central government agencies such as banks, IMF (International Monetary Fund). Note that visitor visa doesnt entitle you to obtain NRI status.

So, as an NRI can I invest in India?

The simple answer is yes. You as an NRI are entitled to invest your hard earned money in India. Here are some popular ways to invest your hard earned money in India

1) Fixed deposits – Open a NRE, NRO , FCNR, RCF fixed deposit that gives constant yiels monthly, quarterly, annual basis or upon maturity. The interest earned is taxable at rate of 30%. It is interesting to note that if you are an NRI you can utilize the double taxation avoidance agreement the treaty that Indian government has with some countries that helps you have your returns taxed at a lower interest rate of 15.45% (includes tax deducted at source popularly called the TDS, education tax, cess)

2) Gold deposit – Have your money remitted to your relatives in India and ask them to purchase gold coins, gold bars, gold jewellery in banks, reputed jewellery stores, popular shops like TATAS tanishq. Gold has tax at the time of purchase after which there is not tax upon sale

3) Mutual Funds – As opposed to popular belief that NRI’s can invest in all the mutual funds, only chosen few funds are open to general public. The income earned on mutual funds are taxable

4) Fixed maturity plans – This is a popular option similar to mutual funds. Some popular reputed mutual funds are operated by best bank SBI and other private sector bank like ICICI, HDFC, Kotak Mahindra, Birla group, Reliance etc

5) Real estate – The best ever enticing investment is the real estate. This includes investment in land, home under construction, second hand home, apartments and NRI’s are eligible for tax upto  5 crores based on level of income. It is to be notes that the rental income earned needs to be filed as income tax in India.

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Ebates cashback sweet spot on purchase

I wanted to utilize the promos, coupons , deals that come as part of St.Patricks day this year. It’s been a while I’ve purchases my handbag, before six years to be exact. Also, I bought an affordable comforter for our family before 7 years. I thought it would be better for me to make bedding set purchase as well as handbag purchase this year
As a first step, I logged into ebates a cashback website that I did enroll this month. This is a totally new concept. Now-a-days I see that most of the online shopping on major brands like walmart, kmart, target, krogers, 1800flowers, JCPenny, even travel websites like expedia, travelocity, orbitz, hotel booking website hotels.com, booking.com and much of the top brands that sell their service online has partnered with cashback websites like ebates.com
When I mean by cashback, note that you need to do the following to earn money in the form of cash. Currently ebates has an option to ship the physical cheque to your home address as per their cycle. For my purchase made yesterday in the month of march, I got an email confirmation saying that I’m going to get this cheque in the month of May. This is my first try and I see ton lots of positive reviews about the credibility of ebates, they have been in business so long and I’m sure that I’ll get this cheque in the month of May 2017
Adding to this I did chat with JC Penny online store customer support to make sure I’ll get rewards if I start the shopping from ebates. They confirmed that I’m going to get my money from them
To start with here are the simple things to earn free money on your purchase
1) Create an account at Ebates website. IF you click on the banner below, you will earn $10 during your first purchase. So, dont miss $10 worth of free money
Ebates Coupons and Cash Back
2) Once you signup your free account, you can login and perform the search based on categories as well as keywords. I wanted to purchase bedding and did a search on that. I got a list of stores with their current coupon details. I found JC Penny offering coupon that will save me 20% on my purchase sitewide on any purchases over $100, 15% purchase below $100. Also, JC Penny offers free shipping for orders over $100. I did choose to utilize the opportunity and clicked on SHOP button from ebates website
3) In JC Penny website I made a purchase and finalized the order. I placed the order and to be double sure used the email address that I did make use of to create my ebates account. Typically the link tracking should work fine, but I did not want to take a chance. EVen if they do email comparison I will have credibility of being loyal to ebates
4) Immediately I turned back to ebates website to see what is going on. I did not see any cash back. This was yesterday night
5) Today morning exactly after 3 hours of making purchase I got the cashback credited in my ebates account. I’ve set my email alert in ebates, that did notify me of this

6) Ebates promised 3% cashback on my purchase. I see that the cashback earned is before taxes after applying JC penny discounts to the products. As such I got 20% + 3% 23% discount on the entire sale yesterday
Ebates Coupons and Cash Back
Today I got an email from airlines loyalty program and they talk about earning 5 miles per $ spent in their airline reward program. I got much interested. I’ll keep publishing my analysis and findings on ton lots of money hacks, travel hacks, cashback, deals , offers and lots more including my case studies that did work for me
Ebates has an option to send you cashback in form of physical cheque to your address as well as your paypal account. To support us please click on this banner to register your ebates account for FREE and start earning money today onwards
Ebates Coupons and Cash Back

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Purchase snacks cheap

Who will say no to snacks? I’m no different and foodie ever since I was in my school days. Back then whenever I reach home my mom prepares snacks as opposed to what I do for my kids these days. I did a quick scanning of my grocery bill this month to see if I can save some good money in my grocery bill and found that nearly 18% of my spending goes towards snack purchase. Though this is not part of my monthly budget snack purchase happens in an erratic fashion as and when we feel like having something interesting.
I took list of snacks purchased over past 6 months and could see interesting pattern in snack purchase. Here is how I’ve figured out way to purchase cheap snacks
Pop-corn Bulk Cheap Purchase at Taldepot – All of us like popcorns. Ever since we decided to disconnect our cable connection, purchase netflix as a saving step in our budget, we make it a point to cherish interesting movies, shows enjoying popcorns. This has contributed a major portion of my grocery snack bill. I checked the price of popcorn online and could see cheapest price in Taldepot. Interestingly they offer free shipping on any purchase over $25

Save on chips and doritos by purchasing in bulk. Again the taldepot turned out to be clear winner
Ebates.com popcorn factory coupon – The popcorn factory offers lots of popcorn flavors, easter popcorn shells, popcorn basket, chocolate popcorn, raspberry popcorn and much more. Make the purchase from ebates.com for fantastic cashback on your purchase
Ebates Coupons and Cash Back

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Chocolate Loyalty Programs

How does it feel like to earn rewards as a return for the loyalty you show towards your chocolate purchase all these years? Too sweet to be rewarded on these chocolate loyalty programs isn’t it?
Russellstover Chocolates – Signup to receive 20% instant offer in your first purchase. Become a member in their Loyalty program to receive points that you can retain for lifetime. They have limited location availability. However, their unique online shopping cart makes it possible to have the purchase shipped to any location

Rocky Mountain chocolate factory – Signup for their newsletter to get sweet coupon deal, offers on birthdays and much more. Get a coupon that comes as part of email subscription welcome mail
Abbotts Chocolates – Signup the newsletter, get exclusive offers and promotions in your inbox. These handmade chocolates can be purchased online as well
Godiva Reward’s Club – This is a reward program from most popular chocolate brand Godiva. You can join their membership club for free and enjoy exclusive benefits. Reward club benefits include free birthday gift, early access to exclusive sales from godiva, signature truff and much more
Amber Lyn Craver’s Club – You can enjoy coupons and discounts by joining craver’s club
Kirkland Signature Chocolate – This is unique costco brand that makes your chocolate purchase a unique experience
David’s Cookies – This is a pastry online portal offering monthly club with seasonal deals. In addition to cookies they sell chocolate coated cakes, biscuits and many more. Join in one of their club to enjoy exclusive deals – cookie of the month club, brownie of the month club, dessert of the month club, cheesecake of the month club and many more. Check the specialty shops that offer desserts that are sugar free, gluten free, nut free, dairy free. They ahve ton lot of onsale, gift baskets at discounts and many more

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Simple Savings Makes You Rich

I’m going to share you some interesting tips that may seem too simple. They are really powerful when practized. Most of us are aware of this. But we fail to follow it out of oversight, laziness , procrastination etc. All it needs to be rich is shift in attitude. Look at normal things in a different way. I’ve summarized my views in the form of simple pointers
1) Clean home frequently – This is an essential, very important tip which most of us miss out of oversight, laziness etc. It starts with cleaning your kitchen twice a week, cleaning your heater, tap, dishwater and such utilities twice a week. This not only increases the longevity of utility but also saves future money to be spent on their repair
It is interesting to note that when cleaned frequently you dont splurge excess money on unnecessary groceries. This is a common mistake that most of us make in all our households. Avoiding this saves real good money
2) Change your trash can regularly – It is very important to change our trash bag regularly. In my opinion, if you can make use of covers from shopping mall including grocery shop, dress store etc as a trash bag, it saves your money spent on trash bag. Some countries don’t permit the usage of these trash bags. It depends on your law. If we clean our trash bag regularly we save money spent on odor sprays needed to get rid of stinking smell emanated from trash bags inaddition to that environment is clean. Clean your trash can regularly, wash and dry in hot sun
3) Clean restroom regularly – Clean your sink, bath tub, closet frequently. This lets you save better by not replacing the items in long run
4) Switch off lights, electric utilities when not needed – This will have a reflection in your utility bill. Simple example are failing to switch off lights when we leave a room. It includes fan, heater and such utilities. This simple change in habit saves great
5) Use slippers, shoes to its maximum usage – Try not to use shoes for day-to-day purpose. Shoes are always costly. This change in usage habit increases its longevity.In simple try to get the maximum usability of any product. If it becomes unusable look out for its secondary usage options. I recently purchased a fertilizer. The outer bag is a rug which is in a good condition. I’m using it as a bathroom mat. Though it saves $1 of mine, penny saved is penny earned