Author Topic: Turbotax 10% Return at Amazon  (Read 1464 times)

johnsmithindustries

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Turbotax 10% Return at Amazon
« on: February 08, 2015, 09:38:35 PM »
I just finished my taxes. Turbotax gives you the option of receiving all or a portion of your return as Amazon credit + 10%, up to something like $10,000. (i.e. I divert $300 of my return to Amazon, and it appears as a $330 credit.)

While I don't purchase a significant volume of goods on Amazon, it is the cheapest place for me to buy several things throughout the year, and especially around the holidays I use it quite a bit.

I did some quick math, looking at past years' Amazon/online expenses and adding up the items I am thinking about buying this year or at least in the near term. I diverted that number to amazon with a few clicks.

With essentially zero effort, I just cut 10% off my holiday shopping and most (if not all) of my internet purchases in 2015.

PathtoFIRE

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Re: Turbotax 10% Return at Amazon
« Reply #1 on: February 09, 2015, 08:13:24 AM »
We also took advantage of this.

Almost makes me wish I didn't try so hard to withhold exactly what we'll owe, a "guaranteed" 10% return would make loaning money to the federal government worth it. In fact, maybe I should crank up my additional withhold on my last paycheck this year. I usually get my refund around the end of February, so 10% over the course of 2 months is more like an annualized rate of 60%! Although then the money is locked up in the gift card until we spend it, so that decreases the effective rate.

I'm a red panda

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Re: Turbotax 10% Return at Amazon
« Reply #2 on: February 09, 2015, 09:27:30 AM »
We did this with a small amount last year.  It supplies our kindle fund for the year and any birthday/christmas gifts we need to ship

ABC123

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Re: Turbotax 10% Return at Amazon
« Reply #3 on: February 09, 2015, 01:35:39 PM »
H&R Block offered an extra percentage for Amazon gift cards, too.  I considered it, but I really don't buy much from Amazon so it is not a good deal for me.