Discover on Apple Pay 9/16 - 10% Cashback Bonus

[Anonymous]

you mean the apple pay bonus cb!

[Anonymous]

?*

[Open123]

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@Anonymous wrote:
you mean the apple pay bonus cb!

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Yes, the 10% bonus, but any bonus with a fixed monetary value earned from business expenditures deducted from AGI is considered income.  So, if I bought Apple products for employees as an expense, all the cashback I earn on my Discover must be claimed as income on my personal return.

[Anonymous]

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@Open123 wrote:

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@Anonymous wrote:
you mean the apple pay bonus cb!

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Yes, the 10% bonus, but any bonus with a fixed monetary value earned from business expenditures deducted from AGI is considered income.  So, if I bought Apple products for employees as an expense, all the cashback I earn on my Discover must be claimed as income on my personal return.

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That's unfortunate. Although I'm not sure if I'd buy my employees apple products anyway. Unless you're in marketing? Or music/some type of art? I'm not sure if a cash back would be so cut and dry as classified by "income" by the IRS. I'm sure there is a legitimate work-around though. 

[Open123]

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@Anonymous wrote:

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@Open123 wrote:

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@Anonymous wrote:
you mean the apple pay bonus cb!

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Yes, the 10% bonus, but any bonus with a fixed monetary value earned from business expenditures deducted from AGI is considered income.  So, if I bought Apple products for employees as an expense, all the cashback I earn on my Discover must be claimed as income on my personal return.

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That's unfortunate. Although I'm not sure if I'd buy my employees apple products anyway. Unless you're in marketing? Or music/some type of art? I'm not sure if a cash back would be so cut and dry as classified by "income" by the IRS. I'm sure there is a legitimate work-around though. 

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By the way, this DOES NOT apply to personal expenditures, or if the "business" expenses were not deducted from AGI.  So, one can earn an almost unlimited amount of cashback from personal spending without any tax consequences.

In the business world, the workaround is to earn points without a fixed monetary value.

[Jansroom726]

I have a question in regards to this. I'm currently enrolled in the double cash program. So.. starting sept 16th, Discover will be coming to Apply Pay, and there is a 10% cash-back offer for using Apply Pay.

My question is, if I shop through the Discover deals portal with a merchant who is participating in the 5% cash-back, are the cash-back promos stackable?

Meaning: 5% Discover Deals + 10% Apple Pay = 15% Cashback + DoubleCashBack = 30% Cashback?

Hopefully that makes sense. Thank you.

One more question:

So if that discover deals merchant happened to be part of the rotating categories, would it then be: 5% Discover Deals + 5% Rotating Category + 10% Apply Pay = 20% CashBack + DoubleCash = 40% Cashback?

Thanks guys. This could be quite huge…

[Shann0n_marie]

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@Jansroom726 wrote:

I have a question in regards to this. I'm currently enrolled in the double cash program. So.. starting sept 16th, Discover will be coming to Apply Pay, and there is a 10% cash-back offer for using Apply Pay.

My question is, if I shop through the Discover deals portal with a merchant who is participating in the 5% cash-back, are the cash-back promos stackable?

Meaning: 5% Discover Deals + 10% Apple Pay = 15% Cashback + DoubleCashBack = 30% Cashback?

Hopefully that makes sense. Thank you.

One more question:

So if that discover deals merchant happened to be part of the rotating categories, would it then be: 5% Discover Deals + 5% Rotating Category + 10% Apply Pay = 20% CashBack + DoubleCash = 40% Cashback?

Thanks guys. This could be quite huge…

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I don't think purchasing a Discover Deals through Apply Pay would be considered as "In Store", which it states on the annoucement that the 10% Cashback Apple Pay Bonus only applies to in store purchases?

[Shann0n_marie]

But wait - on a separate note, (aside from the new Apple Pay bonus) -- are Discover Deals where you get cash back subject to doubling at the end of the year as well?  I just got approved with Discover last week so I don't know the in's & outs yet?

So for instance, DiscoverDeals shows a 5% Cashback bonus right now... if I purchased through that, would I get an additional 5% at the end of the year... in essense 10% cashback?

Thanks from a newbie to Discover! 

[Open123]

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@Shann0n_marie wrote:

But wait - on a separate note, (aside from the new Apple Pay bonus) -- are Discover Deals where you get cash back subject to doubling at the end of the year as well?  I just got approved with Discover last week so I don't know the in's & outs yet?

So for instance, DiscoverDeals shows a 5% Cashback bonus right now... if I purchased through that, would I get an additional 5% at the end of the year... in essense 10% cashback?

Thanks from a newbie to Discover! 

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I would assume, yes.  So long as the establishment associated with the deal allows for Apple pay as an "in store" purchase.

[Anonymous]

shannon yes. your card is automatically enrolled. all 1% spend is 2%, the 5% is 10%, the 10% is 20%, the 15% is 30% and the 20% is 40%. the bonus applies to your account on the 13th statement.