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Since October 12, 2015, the prepaid REDcard (Redbird) can only be loaded at Target with cash. It can still be loaded online with a bank-issued debit card, up to $200/day and $1K/month.

Therefore, for MS (manufactured spending) Redbird is now considered dead. RIP!

Author Topic: The Target Prepaid REDcard  (Read 1891693 times)

Offline rng

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Re: The Target Prepaid REDcard
« Reply #6780 on: March 11, 2015, 12:38:34 PM »
why would buying things with your red card trigger a tax issue ?!?!
When you're running a REAL business then you need to put everything in Quickbooks and report your income and expenses and the expenses need to be legitimate if they're not then you get taxed on it.

Offline benjie1305

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Re: The Target Prepaid REDcard
« Reply #6781 on: March 11, 2015, 12:40:13 PM »
If you go back to the 1st and 2nd week of February you will see that this was discussed extensively. Feel free to search the thread for the 1099 discussion and then if you still have questions you are more then welcome to post them here.
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Offline dealfinder85

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Re: The Target Prepaid REDcard
« Reply #6782 on: March 11, 2015, 12:40:45 PM »
If you go back to the 1st and 2nd week of February you will see that this was discussed extensively. Feel free to search the thread for the 1099 discussion and then if you still have questions you are more then welcome to post them here.
but if you dont even want to put in that little amount of effort, read the wiki

Offline rng

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Re: The Target Prepaid REDcard
« Reply #6783 on: March 11, 2015, 12:41:24 PM »
If you go back to the 1st and 2nd week of February you will see that this was discussed extensively. Feel free to search the thread for the 1099 discussion and then if you still have questions you are more then welcome to post them here.
I am asking now something different about how to expense loads on my business cards..

Offline benjie1305

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Re: The Target Prepaid REDcard
« Reply #6784 on: March 11, 2015, 12:42:34 PM »
I am asking now something different about how to expense loads on my business cards..

If this is something you want to know specifically from an accountant stand point, it might be worth asking that here
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Offline dealfinder85

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Re: The Target Prepaid REDcard
« Reply #6785 on: March 11, 2015, 12:43:15 PM »
If this is something you want to know specifically from an accountant stand point, it might be worth asking that here
haha
its funny how every question has a designated thread

Offline benjie1305

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Re: The Target Prepaid REDcard
« Reply #6786 on: March 11, 2015, 12:44:40 PM »
haha
its funny how every question has a designated thread

Well, thats why DDF is great. If you know your way around you really don't need to ever reinvent the wheel :)
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Offline pixi

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Re: The Target Prepaid REDcard
« Reply #6787 on: March 11, 2015, 12:52:53 PM »
If you go back to the 1st and 2nd week of February you will see that this was discussed extensively. Feel free to search the thread for the 1099 discussion and then if you still have questions you are more then welcome to post them here.
I guess the wiki was recently edited someone added the word AND..
money doesn't talk......      it SCREAMS !

Offline dealfinder85

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Re: The Target Prepaid REDcard
« Reply #6788 on: March 11, 2015, 12:53:44 PM »
I guess the wiki was recently edited someone added the word AND..
considering it has the date it was last edited...i would say no
been up for 2 months

Offline pixi

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Re: The Target Prepaid REDcard
« Reply #6789 on: March 11, 2015, 12:55:15 PM »
considering it has the date it was last edited...i would say no
Okay so I guess I didn't read the wiki for a long time time
money doesn't talk......      it SCREAMS !

Offline rng

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Re: The Target Prepaid REDcard
« Reply #6790 on: March 11, 2015, 01:08:07 PM »
If this is something you want to know specifically from an accountant stand point, it might be worth asking that here
When you look at a thread that has 27 pages and then look at this one that has 450+ pages, its not very enticing to post something there as opposed to here.
Besides the fact that this is a target red card loading question associated with a business Credit card, I am sure there are just as many accountants reading this thread as that one.

Offline benjie1305

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Re: The Target Prepaid REDcard
« Reply #6791 on: March 11, 2015, 01:23:44 PM »
When you look at a thread that has 27 pages and then look at this one that has 450+ pages, its not very enticing to post something there as opposed to here.
Besides the fact that this is a target red card loading question associated with a business Credit card, I am sure there are just as many accountants reading this thread as that one.

Your call but I'd think that the accountant thread would definitely have the people that could answer the question. If they don't know how RC works it can be explained offline and they could help you. Here, as much as people know RC, I don't know how many really know this from an accounting perspective. Up to you I guess.
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Offline hvaces42

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Re: The Target Prepaid REDcard
« Reply #6792 on: March 11, 2015, 01:28:59 PM »
I am asking now something different about how to expense loads on my business cards..
You really have no understanding of what income and expenses are. What you just basically asked is "How do I expense deposits to my bank account from the proceeds of a loan I just took?"

You borrowed money from your cc, put it in your RC account and walla, its an expense?!?! You need way more than an accountant. Maybe Income and Expense for Dummies would be a better choice.

Its wonderful to see all the  אויבער חכמים offering tax advice.
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Offline noturbizniss

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Re: The Target Prepaid REDcard
« Reply #6793 on: March 11, 2015, 01:42:28 PM »
the answer is spelled out BLACK ON WHITE !!!!
-1.
Black on BLUE
READ THE DARN WIKI!!!!

Chuck Norris...
...can still do FT method
...READS THE WIKI!!!

Online etech0

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Re: The Target Prepaid REDcard
« Reply #6794 on: March 11, 2015, 01:44:34 PM »
Workflowy. You won't know what you're missing until you try it.

Offline hvaces42

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Re: The Target Prepaid REDcard
« Reply #6795 on: March 11, 2015, 01:47:48 PM »
Fair warning - Any PMs sent in response to forum posts are fair game for ridicule in public.

Online etech0

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Re: The Target Prepaid REDcard
« Reply #6796 on: March 11, 2015, 01:50:05 PM »
-1
WHITE AND GOLD
and we have a winner!
Workflowy. You won't know what you're missing until you try it.

Offline rng

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Re: The Target Prepaid REDcard
« Reply #6797 on: March 11, 2015, 01:54:08 PM »
You really have no understanding of what income and expenses are. What you just basically asked is "How do I expense deposits to my bank account from the proceeds of a loan I just took?"

You borrowed money from your cc, put it in your RC account and walla, its an expense?!?! You need way more than an accountant. Maybe Income and Expense for Dummies would be a better choice.

Its wonderful to see all the  אויבער חכמים offering tax advice.
Looks like youre a smart one here, whats your great advice?? when I put in quickbooks and there is c charge for 1k in target what would I put that in quickbooks as?
when its paid off from my personal account or directly from rc it doesnt match so cant reconcile

Offline hvaces42

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Re: The Target Prepaid REDcard
« Reply #6798 on: March 11, 2015, 01:58:18 PM »
Looks like youre a smart one here, whats your great advice?? when I put in quickbooks and there is c charge for 1k in target what would I put that in quickbooks as?
when its paid off from my personal account or directly from rc it doesnt match so cant reconcile
I dont work with quickbooks but I'm sure there is a thread for that too.

You seem to be quite capable of asking the dumb questions here. Has nothing to do with me being the smart one. You make us all look good.

Its a loan and when you pay it off its just that, a loan. Account for it however you wish. Call it a loan, call it an asset that you acquired, call it what you wish. In any event its not an RC question.

You cant reconcile it becausr its not a charge at Target. Its a loan from your cc to a new account titled RC that now has 1k in it. Target is just the vehicle you are using to create that loan.

Do you work for the CC companies or Target? Maybe this guy is the reason why its not coded as as a CA.
« Last Edit: March 11, 2015, 02:03:02 PM by hvaces42 »
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Offline greatdeals

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Re: The Target Prepaid REDcard
« Reply #6799 on: March 11, 2015, 02:15:25 PM »
loaded in Brick today
2k no problems