Depends where you live, and you can always claim your taxes back.
Maybe its possible it would work but man it would take some serious organization.
It would almost be better to have a network or maybe 2 businesses that buy from each other with a net 0 profit gain.
You'd probably want to do something digital and reoccurring for simplicity. Maybe set up a digital marketing agency and simply buy marketing services from each other and then don't really deliver for each other. Lol
Are there credit card processing fees to accept purchases as a business? For example:
You set up one Landing Page through Shopify or something and then your associate does the same. You purchase "digital services" from each other for the same price. I.E. Your agency makes $5000 from the associate for your services but it spends $5000 in costs for his. Your business expenses are equivalent to your profits so no taxes correct, at least in the US I believe but I could be wrong or missing some finer details here.
Now do that for say $500,000 per year divided between each month and its $25,000 profit from card bonuses if its 5%. That's not too shabby. Most of the process could easily be automated too since its literally just making routine purchases. You'd probably want to divide all that between as many credit cards as possible plus a lot of them have cash back caps set on them.
This is probably fraud somehow. Lol but maybe not but just would be frowned upon by credit card companies and get you blacklisted from them. There were other schemes in the past years ago that were more ridiculous and not illegal.
I remember some guy was using a credit card to buy a government silver dollar coin that was listed for $1 with no fees and he would legit buy thousands at a time and take them to a bank, deposit them, and then pay off the card. Rinse repeat. Eventually the ruse was found out and the government stopped selling the coin but it worked long enough for him to make hundreds of thousands if I remember correctly.
I'm definitely interested in manufactured spend ideas though so I'm down to spit ball ideas or the process to make it work.
