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Here's an idea if you have excess cash not earning much interest
Old 07-28-2011, 02:01 PM   #1
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Location: Chicago
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Here's an idea if you have excess cash not earning much interest

Here's a way to make some quick Amazon gift card cash good until 9/6/11. If you have extra cash sitting around, you can do a new acct or transfer, $50k gets you $100, $100k gets you $200 and $250k gets you $500. You can also deposit $1 mil to get a Sony internet tv/blu ray player or desktop/laptop, but I don't recommend these since you'll be taxed on these items for sure. The beauty of this deal is you won't generate a 1099 for the gift card if you stay below $600, so it's tax free.

Also, you can park it in a CD, leave it in a money market account or trade as you like, only requirement is the money has to stay there for 1 year. I figure if you're not using the money for the next year and you're not earning much in interest, this will help you get up to an extra $500 tax free.

Personally, I've done these deals before for free electronics and I've always stayed below the $600 mark.

TD*Ameritrade*-* gift card*rewards
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Old 07-28-2011, 03:24 PM   #2
Thinks s/he gets paid by the post
Join Date: Jun 2010
Location: France
Posts: 1,396
So for tying your money up for a year, you get 0.2% in Amazon vouchers that probably cost TDA 0.12% ? No thanks.
Born 11/1960, retired June 30, 2012; DW born 07/1957, retired July 31, 2019. Current portfolio is 2200K Euros, split 40 stocks/30 bonds/20 RE/10 cash.
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Old 07-28-2011, 06:50 PM   #3
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Location: Inside the Beltway
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There are far more profitable ways to make a quick buck, and most of them don't tie up your money for such a long time. PayPal and/or Amazon Payments and the AARP credit card, for example.
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