{"id":4260,"date":"2023-10-04T04:26:28","date_gmt":"2023-10-04T04:26:28","guid":{"rendered":"https:\/\/mer.tours\/should-you-pay-your-taxes-with-a-credit-card\/"},"modified":"2023-10-04T04:26:28","modified_gmt":"2023-10-04T04:26:28","slug":"should-you-pay-your-taxes-with-a-credit-card","status":"publish","type":"post","link":"https:\/\/travelaffiliatewebsite.com\/mer\/should-you-pay-your-taxes-with-a-credit-card\/","title":{"rendered":"Should you pay your taxes with a credit card"},"content":{"rendered":"

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This page includes information about the Discover It Miles that is not currently available on The Points Guy and was not provided by the issuer.<\/em><\/p>\n

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As Benjamin Franklin famously declared, “In this world, nothing is certain except death and taxes.” His words are as true today as when he wrote them over 200 years ago.<\/p>\n

Many of us aren’t thinking about tax season just yet, but if you filed for an extension earlier this year, your tax deadline is Monday, Oct. 16. And if you’re a small business owner who pays taxes quarterly, it’s pretty much always tax season for you.<\/p>\n

Regardless of the time of year, when it’s time to pay Uncle Same, you may wonder if it’s worth it to charge your taxes to a rewards credit card to earn cash back<\/a> or points toward travel. Although you will generally get dinged with service charges and other fees for using a credit card to pay your taxes, it can still be worthwhile for a few reasons.<\/p>\n

For instance, you might need to hit a minimum-spending threshold<\/a> to earn the welcome bonus<\/a> on a new card or to score a spending-based perk like elite-qualifying miles<\/a> with an airline card or a free night award<\/a> with a hotel card. Or maybe you have a card offering a 0% annual percentage rate (APR) on purchases<\/a> for a certain timeframe, so you have some breathing room to pay off your tab.<\/p>\n

There are plenty of reasons you might want to pay your taxes with a credit card, but also several caveats. Here’s what you need to know as you consider your options.<\/p>\n

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The best credit cards for paying your taxes<\/h2>\n

The information on the Discover it Miles and PayPal Cashback Mastercard have been collected independently by The Points Guy. The card details on this page have not been reviewed or approved by the issuer.<\/em><\/p>\n

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Comparison of the best credit cards for tax payments<\/h2>\n

Below, you’ll find the general earning rates for the top credit cards to pay your taxes, along with TPG’s valuations of the rewards you can earn.<\/p>\n

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These include the general earning rates for the best credit cards to pay taxes. The potential return is based on TPG valuations<\/a> and maximizing the earnings through the method mentioned in the “Caveat” section \u2014 though it doesn’t include the value of any welcome offer you could earn. We’re also assuming a 1.85% fee for paying by credit card (more on that below).<\/p>\n

If you can claim your convenience fees as a tax deduction on your business (speak with your tax advisor about this possibility), your gains would be even greater.<\/p>\n

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Different ways to pay your taxes<\/h2>\n

If you owe taxes to the IRS, there are several payment methods. Most people opt for one of the following:<\/p>\n