I did my taxes yesterday with Turbo Tax. I’m getting a refund. A really small refund and probably the last one I’ll ever see. Darn it.
Turbo Tax has this interesting little money stealer option that allows you to use your refund, in part or in full, to purchase gift cards for use at places like Starbucks and Expedia. If you elect to do this, you get bonus dollars – you buy a $20 Starbucks gift card for $15. Seems like a good idea, if you go to Starbucks every morning and spend $10 like we do, right? No, not really.
First problem is that there is a $14.99 handling fee applied. So if you buy $100 worth of cards you’re not saving $25, you’re only saving $10. Still, a savings is a savings, right? Wrong. You can only get cards in $20 increments which is less than two trips for me. That’s five of those plastic cards littering up the universe. I mean please, give me the option to get ONE card with $100 and then I might consider.
Now the Expedia option, it’s a better deal. Minimum purchase is $300 which you actually pay $250 for. Factor in your $14.99 and it’s still a nice enough deal, isn’t it? Especially if you’re planning on buying your airplane tickets for Blogher through expedia.
Do any of you think this new Turbo Tax feature is a good idea? Would you consider using your tax refund to buy all of those Christmas gift cards now and get it out of the way? Or is that $14.99 handling fee going to make it less appealing?
Technorati Tags: turbotax, incometax, refund, starbucks, expedia, blogher
5 thoughts on “Daily Dose of Money – Taxes”
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I also use turbo tax, have every year but I will not use the cards buying thingy. I don’t think it’s a savings and I really need the money for other things not yet determined.
Denise,
Last year, they wanted me to pay to EFile my taxes with TurboTax. Nope. Didn’t happen. When the cost of EFiling becomes cheaper than the cost of paper, ink and a stamp, I’ll EFile.
So I truly hate these “add ons” that make more money for everyone else and loose money for me. I think they’re set up for the suckers.
Just saw your post while trying to figure some stuff out. Please note I don’t know much about the TurboTax but I know that Expedia says “for hotel and packages only, 1 per booking”
So. . . . I’m not exactly sure what the 1 per booking means, but unless you plan on getting your flights through apackage -your out of luck
Hey Chris – interesting 1 per booking. I’m not sure what that means either! Interesting and important question.
Several months have passed since the postings made on this topic, but I just came across them. Just call me sucker! I bought one of the $300 turbotax Expedia gift cards for $250. Sounded like a good idea because I live overseas so I often book hotels on Expedia when I travel.
Well, I just tried to use my “gift” card while booking a hotel on Expedia. I read the rules printed on the card and carefully followed them (BTW, “1 per booking” means only one gift card or other coupon can be used at a time); i.e., I made sure to choose an “Expedia Special Rate” hotel, and the total for my booking was more than $300 (not including tax or fees). It didn’t work. I got an error message. I a few hours on several mornings trying to sort out the problem by calling the number on the back of the gift card and by calling and e-mailing customer service people at Expedia.
This morning I was finally told that the reason I haven’t been able to use this card for the booking I was trying to make is that the “base rate of the hotel” must be at least $300. I was booking 2 rooms for 2 nights for a pre-tax-and-fees total of $540. I though that would be okay because the wording on the back of my card and on the website states “Good for one (1) $300 credit for eligible bookings on http://www.expedia.com/turbotax. Not valid on bookings priced less than $300 (excluding tax recovery charges and service fees). Only bookings for Expedia Special Rate hotel, any combination of Expedia Special Rate hotel with an activity or flight, or package booking that include hotel and are priced at $300 or more (excluding tax recovery charges and service fees) are eligible.” As you can see, the verbage refers to “bookings” not room rates. Expedia customer service told me that my $300 card could only be used to book a hotel whose base rate is $300 per room per night. I feel completely ripped off. To me, a “booking” should include the total number of rooms and nights. Nowhere in the rules for the card, as far as I can see, is it stated that I must book a $300-per-night room!
I’m quite upset. My gift card expires Dec. 31, 2006, and is not renewable. I guess I’m out the $250 I spent on it. But I’m going to try to find someone to write to about this to see if I can get some kind of credit at Expedia to compensate. Wish me luck!