5 replies to this topic

[bonehead]

Ok I have an idea. I am not sure if it will work, so I would like to get your input. Right now google is offering free credit card processing until 2008.
I read through the terms of service and just got really confused. Do you think that it might be possible to process your own cash back DEBIT cards through google checlout?

For example ing is offering 1% cash back on all debit card transactions between 6-1 and 8-1 up to 500 dollars. So you would have to spend 50,000 dollars to take full advantage of the offer. So you pay yourself 1000 dollars a day and keep repaying yourself the same 1000 dollars for the next 60 days. and you will have earned 500 dollars.

Any thoughts on the process.

[Bankgeek]

Ok I have an idea. I am not sure if it will work, so I would like to get your input. Right now google is offering free credit card processing until 2008.
I read through the terms of service and just got really confused. Do you think that it might be possible to process your own cash back DEBIT cards through google checlout?

For example ing is offering 1% cash back on all debit card transactions between 6-1 and 8-1 up to 500 dollars. So you would have to spend 50,000 dollars to take full advantage of the offer. So you pay yourself 1000 dollars a day and keep repaying yourself the same 1000 dollars for the next 60 days. and you will have earned 500 dollars.

Any thoughts on the process.

Your wife or some other trusted person sets up an online store that accepts debit & credit cards and the transactions are processed through Google. You then go to the web site and buy $1,000.00 per day. The money is then recycled, i. e. given back to you. Seems to me it should work. But how much would it cost to set up an online store? Maybe not that much.

[bonehead]

Ok I have an idea. I am not sure if it will work, so I would like to get your input. Right now google is offering free credit card processing until 2008.
I read through the terms of service and just got really confused. Do you think that it might be possible to process your own cash back DEBIT cards through google checlout?

For example ing is offering 1% cash back on all debit card transactions between 6-1 and 8-1 up to 500 dollars. So you would have to spend 50,000 dollars to take full advantage of the offer. So you pay yourself 1000 dollars a day and keep repaying yourself the same 1000 dollars for the next 60 days. and you will have earned 500 dollars.

Any thoughts on the process.

Your wife or some other trusted person sets up an online store that accepts debit & credit cards and the transactions are processed through Google. You then go to the web site and buy $1,000.00 per day. The money is then recycled, i. e. given back to you. Seems to me it should work. But how much would it cost to set up an online store? Maybe not that much.

I thought about that, but from what i read on fatwallet the other person would have to pay taxes on the 50,000 dollars just like it is income.

[Bankgeek]

Ok I have an idea. I am not sure if it will work, so I would like to get your input. Right now google is offering free credit card processing until 2008.
I read through the terms of service and just got really confused. Do you think that it might be possible to process your own cash back DEBIT cards through google checlout?

For example ing is offering 1% cash back on all debit card transactions between 6-1 and 8-1 up to 500 dollars. So you would have to spend 50,000 dollars to take full advantage of the offer. So you pay yourself 1000 dollars a day and keep repaying yourself the same 1000 dollars for the next 60 days. and you will have earned 500 dollars.

Any thoughts on the process.

Your wife or some other trusted person sets up an online store that accepts debit & credit cards and the transactions are processed through Google. You then go to the web site and buy $1,000.00 per day. The money is then recycled, i. e. given back to you. Seems to me it should work. But how much would it cost to set up an online store? Maybe not that much.

I thought about that, but from what i read on fatwallet the other person would have to pay taxes on the 50,000 dollars just like it is income.

Wifey buys the merchandise from you and sells it to you for cost. No net. She owes nothing. Seems like it would work.

[bonehead]

Ok I have an idea. I am not sure if it will work, so I would like to get your input. Right now google is offering free credit card processing until 2008.
I read through the terms of service and just got really confused. Do you think that it might be possible to process your own cash back DEBIT cards through google checlout?

For example ing is offering 1% cash back on all debit card transactions between 6-1 and 8-1 up to 500 dollars. So you would have to spend 50,000 dollars to take full advantage of the offer. So you pay yourself 1000 dollars a day and keep repaying yourself the same 1000 dollars for the next 60 days. and you will have earned 500 dollars.

Any thoughts on the process.

Your wife or some other trusted person sets up an online store that accepts debit & credit cards and the transactions are processed through Google. You then go to the web site and buy $1,000.00 per day. The money is then recycled, i. e. given back to you. Seems to me it should work. But how much would it cost to set up an online store? Maybe not that much.

I thought about that, but from what i read on fatwallet the other person would have to pay taxes on the 50,000 dollars just like it is income.

Wifey buys the merchandise from you and sells it to you for cost. No net. She owes nothing. Seems like it would work.

don't you think that is a little transparent? I am sure the irs would know what you are doing.

now I wish i had majored in bussiness/economics instead of history. If only i had found ibankdesign 5 years ago. suppose i could still give accounting a try but i don't want to be in a class with 20 year olds when i am 27. siiiiii

[Bankgeek]

Ok I have an idea. I am not sure if it will work, so I would like to get your input. Right now google is offering free credit card processing until 2008.
I read through the terms of service and just got really confused. Do you think that it might be possible to process your own cash back DEBIT cards through google checlout?

For example ing is offering 1% cash back on all debit card transactions between 6-1 and 8-1 up to 500 dollars. So you would have to spend 50,000 dollars to take full advantage of the offer. So you pay yourself 1000 dollars a day and keep repaying yourself the same 1000 dollars for the next 60 days. and you will have earned 500 dollars.

Any thoughts on the process.

Your wife or some other trusted person sets up an online store that accepts debit & credit cards and the transactions are processed through Google. You then go to the web site and buy $1,000.00 per day. The money is then recycled, i. e. given back to you. Seems to me it should work. But how much would it cost to set up an online store? Maybe not that much.

I thought about that, but from what i read on fatwallet the other person would have to pay taxes on the 50,000 dollars just like it is income.

Wifey buys the merchandise from you and sells it to you for cost. No net. She owes nothing. Seems like it would work.

don't you think that is a little transparent? I am sure the irs would know what you are doing.

now I wish i had majored in bussiness/economics instead of history. If only i had found ibankdesign 5 years ago. suppose i could still give accounting a try but i don't want to be in a class with 20 year olds when i am 27. siiiiii

Since you're not doing anything wrong in the first place it wouldn't matter if they knew about it or not. Just as long as the forms are filled out properly and filed it's legal.