The Simple Dollar Morning Roundup: Parent’s Night Out Edition

Tomorrow’s morning roundup might be minimal, because my son’s babysitter is giving us a Christmas present: tonight, she’ll watch our son from the moment we get home from work until as late as we want for just her normal babysitting fee. For us, that’s a golden opportunity to finish our Christmas shopping and go out for a nice dinner, so tomorrow’s roundup may be extremely short. Onward, soldiers!

How Are Credit Card Offers and Bank Promotions Taxed? The way it seems to work, in a nutshell, is this: if a promotion ever allows you to directly withdraw the bonus and hold it in your hands, then it’s taxable; otherwise, it’s treated as if you got a bargain at a sale – you don’t pay taxes on a sale price under the MSRP. (@ blueprint for financial prosperity)

Now That’s Balance Transfer! Actually, that’s a stupid amount of risk to take on for such a small amount of money compared to what could be smacked down upon him. (@ frank the financially savvy atheist)

The Bank Deposits $1,000,000 Into Your Savings Account… I would say nothing at all, never spend it, and let it accrue interest. With that much money, someone’s going to figure it out eventually, but if you can get some interest earnings off of it in the meantime, you’re just fine – the typical bank “fix” is to simply move the misdeposited amount to the correct account. It’s like the Monopoly card: “Bank error in your favor, collect $100″ (@ consumerism commentary)

If you enjoyed reading this, sign up for free updates!

Loading Disqus Comments ...
Loading Facebook Comments ...

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>