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Meeting 4K Spending on CSR - Question

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Established Contributor

Re: Meeting 4K Spending on CSR - Question

Paying yourself is a violation of the Square TOS and if caught could get you locked and cancelled.

 

Better route would be something completely above board, like paying mortgage/rent with Plastiq

 

Good Luck!

Message 11 of 56
New Member

Re: Meeting 4K Spending on CSR - Question


@redpat wrote:

Remember you get burned when you play with fire.

 

This is a no, no here!


 I am taking in all advices and opinions here. Thanks for your advice!

Message 12 of 56
New Member

Re: Meeting 4K Spending on CSR - Question


@TygerHawke wrote:

Paying yourself is a violation of the Square TOS and if caught could get you locked and cancelled.

 

Better route would be something completely above board, like paying mortgage/rent with Plastiq

 

Good Luck!


The Square is not under my name and it would be put back into my check as a form of commission ( I am a 1099 employee)

Message 13 of 56
Valued Contributor

Re: Meeting 4K Spending on CSR - Question


@xseriox wrote:

@redpat wrote:

Remember you get burned when you play with fire.

 

This is a no, no here!


 I am taking in all advices and opinions here. Thanks for your advice!


MS isn't a discussion of advice on these boards......

Personal Cards: Amex Gold, & Plat | Amex Delta Res | Amex Hilton | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR | Amex Plat
Message 14 of 56
Established Contributor

Re: Meeting 4K Spending on CSR - Question


@xseriox wrote:

@solongtj wrote:

@longtimelurker wrote:

@xseriox wrote:

Any peculiar reason? We are an event hospitality company and alot of times we take in huge deposits for events, Square has been awesome and had no problems with them. 


To be safer, I would do it in two goes, and use non-round amounts   (a single charge of exactly $4K might scream to chase "Look at me"!)   My only concern would be if the banks realized the charge was from your employer (from credit reports for example) but don't think it is a huge risk.

 

Nice of your employer to eat the fee.


Yeah I'd do what LTL suggested. Maybe a charge for like 2105.72, and 1987.99. Something like that.. don't make it add to exactly 4K. I'd go under a bit, and spend some normal spend to make up difference.. or go above. I think you'd be fine since it's a legitimate business.

 

Are they going to make you pay the 2.75% fee back though?


Yeah thats the route I am going to do. They wouldnt charge me the fee however since we charge so much money on Square they give us a discounted fee of 1.3% for all transaction. A small price to pay.

 


1.3% isn't bad. Sounds like they run a lot through their account. I don't think you have anything to be worried about, especially if they'll pay you back via a commission check as you mention.

TU Fico 841 as of 4/2017, Experian Fico 830 as of 3/2017, Equifax FICO 839 as of 3/2017.
Message 15 of 56
Mega Contributor

Re: Meeting 4K Spending on CSR - Question


@redpat wrote:

@xseriox wrote:

@redpat wrote:

Remember you get burned when you play with fire.

 

This is a no, no here!


 I am taking in all advices and opinions here. Thanks for your advice!


MS isn't a discussion of advice on these boards......


While it is MS in the sense that nothing is really being bought, it's not a general method applicable to others (unless xseriox wants to name the generous company so we can all apply!)

 

Message 16 of 56
Moderator

Re: Meeting 4K Spending on CSR - Question

This isn't a good idea as other suggested and talking about how tp perform MS on this board which this kinda is are against the forum rules and really frowned upon.  You can google other forums where this is allowed and get input from them.  

Message 17 of 56
Valued Contributor

Re: Meeting 4K Spending on CSR - Question


@longtimelurker wrote:

@redpat wrote:

@xseriox wrote:

@redpat wrote:

Remember you get burned when you play with fire.

 

This is a no, no here!


 I am taking in all advices and opinions here. Thanks for your advice!


MS isn't a discussion of advice on these boards......


While it is MS in the sense that nothing is really being bought, it's not a general method applicable to others (unless xseriox wants to name the generous company so we can all apply!)

 


Uhh! If it looks like a duck, quakes like a duck then it's a duck.......MS is MS isn't.

 

Two parties are in Kahoots......

Personal Cards: Amex Gold, & Plat | Amex Delta Res | Amex Hilton | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR | Amex Plat
Message 18 of 56
Valued Contributor

Re: Meeting 4K Spending on CSR - Question

But wouldn't that also affect your taxes at the end of the year? You now made $4K more money as far as the IRS is concerned.

This just seems too shady and too messy. I'd try to meet the spend in a normal manner.
Message 19 of 56
Mega Contributor

Re: Meeting 4K Spending on CSR - Question


@redpat wrote:

@longtimelurker wrote:

@redpat wrote:

@xseriox wrote:

@redpat wrote:

Remember you get burned when you play with fire.

 

This is a no, no here!


 I am taking in all advices and opinions here. Thanks for your advice!


MS isn't a discussion of advice on these boards......


While it is MS in the sense that nothing is really being bought, it's not a general method applicable to others (unless xseriox wants to name the generous company so we can all apply!)

 


Uhh! If it looks like a duck, quakes like a duck then it's a duck.......MS is MS isn't.

 

Two parties are in Kahoots......


Compare and contrast:    My friend is about to buy a $5K computer.   I buy it on my card.   He gives me the money.    Is that MS?  Two people in cahoots.   Or is the (fairly arbitrary) "someone got something" make it a myfico approved transaction....

Message 20 of 56
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