Do you count reimbursements as a personal profit.
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No i have a column on my spreadsheet for what I paid and another for what I was reimbursed. Either it is a wash or I paid a little bit for the item. I also have another column for fee.
Well, sure, if the reimbursemed product or service was at least part of the reason I took the shop. Otherwise, no.
To be more clear, I count the value of the product or service to me, not the reimbursement amount. If I need a $60 room and I do a hotel shop that reimburses $150, it only saves me $60.
Edited 2 time(s). Last edit at 05/23/2022 02:30AM by mystery2me.
To be more clear, I count the value of the product or service to me, not the reimbursement amount. If I need a $60 room and I do a hotel shop that reimburses $150, it only saves me $60.
Edited 2 time(s). Last edit at 05/23/2022 02:30AM by mystery2me.
How about full food reimbursement? The meal cost $15, the full amount is reimbursed. or a car wash for $22, the full cost is reimbursed. You pay nothing.
Yes, some of the items we are going to buy anyway, so it's not something I have to pay for out of pocket.
I'm trying to clear $2000 this month. If I count getting reimbursed for eating out, I will clear $2000. Eating out has really cut down on my food bill.
No, because if I wasn't doing a shop I wouldn't be eating out, and if I wasn't shopping I wouldn't be spending cash money on food.
It is cash back, but it covers what you paid. If it is a wash, it is not profit. What it does do is reduce your expenses and/or cost of living. Unless say you do a restaurant shop that pays a flat fee of $100 regardless of how much you order and spend. You spend $85. In this case, your profit is $15 (except you still had to do the shop and fill out a report). The other $85 is a wash and hopefully you had a good meal.
Edited 1 time(s). Last edit at 05/23/2022 06:05PM by Zek.
Edited 1 time(s). Last edit at 05/23/2022 06:05PM by Zek.
Emotionally, yes. I have a route of FF shops that will pay $300 in fees and $80 in reimbursement. However, it will also save me buying groceries. So, emotionally, yes, I've profited handsomely.
Tax wise, bookkeeping-wise, nope. The $300 fees will be mostly offset by mileage, and the $80 isn't taxable.
Tax wise, bookkeeping-wise, nope. The $300 fees will be mostly offset by mileage, and the $80 isn't taxable.
Better yet....I have a column for my credit card rewards earned from that purchase. If it's a restaurant, I count 3% of what I spent (Costco rewards card from Citi). But I have a US Bank credit card that does 5% on fast food (not restaurants). For other things I use the percentage that I get based on which card gives me the best cash back offer. So while I really don't keep track of the amount I saved or "made" by eating out (less groceries), I do keep track of the EXTRA rewards I earn.
One could argue however, that if you are eating the crap (5 guys, panda, JITB, etc), that actually is HURTING your health and while you're saving cash now, you will be paying more later in doctor bills and medical issues (if not done in moderation). I'm sure having that stuff every once in awhile isn't gonna kill you, but if you are relying on that daily or quite frequently, your heath is gonna suffer in the long run.
One could argue however, that if you are eating the crap (5 guys, panda, JITB, etc), that actually is HURTING your health and while you're saving cash now, you will be paying more later in doctor bills and medical issues (if not done in moderation). I'm sure having that stuff every once in awhile isn't gonna kill you, but if you are relying on that daily or quite frequently, your heath is gonna suffer in the long run.
Many of the drive thru meals I give to friends.
I think of certain reimbursements as tax-free income. these would include: groceries, fuel, hair care, car washes, fuel, and oil changes. Basically, anything that i would otherwise be spending taxable income to obtain. Then there are tax-free items earned through rewards programs by doing, for instance, reimbursed hotel shops. .Although I would not otherwise have spent my own funds to stay in those shopped hotels and eat there; the rewards points "buy" me vacation hotel stays later.
Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
I missread the OP. Yes I do count them as profit. My main profit is from the many grocery stores I do.
I don't count them as profit, but more as a discount against things I'd buy anyway. I rarely end up in the "plus" column on a flat-fee purchase shop, so there's no profit. E.G., I did a Super Shoes shop over the weekend; spent $45 for the shoes and will get a $20 fee. I figure it as a $20 discount if I keep them (not sure on that yet).
I'm always over the car-wash reimbursement because the location charges more for the required package. But I figure paying $4 or $5 for a full car wash is a good deal.
If I were to do, say, a flat-fee dining shop where I got that $100 fee regardless of expense, and spent $85, then, sure, that $15 is a mathematical profit, and I'd feel that it was, but I had to work for it, so it's not like it's free and clear above the $85.
I'm always over the car-wash reimbursement because the location charges more for the required package. But I figure paying $4 or $5 for a full car wash is a good deal.
If I were to do, say, a flat-fee dining shop where I got that $100 fee regardless of expense, and spent $85, then, sure, that $15 is a mathematical profit, and I'd feel that it was, but I had to work for it, so it's not like it's free and clear above the $85.
I learn something new every day, but not everyday!
I've learned to never trust spell-check or my phone's auto-fill feature.
I've learned to never trust spell-check or my phone's auto-fill feature.
No, because those purchases are required. Although they are often for things I am glad to have or do, I would not have purchased if I were not mystery shopping -- even restaurants, because I do not have enough disposable income that I would be spending my own money on eating out so much!
@hbbigdaddy wrote:
But I have a US Bank credit card that does 5% on fast food (not restaurants).
Considering how many fast food shops I do, this is intriguing. Do you know if 5 Guys falls under the fast food category?
In the food industry, Five Guys is considered to be "fast-casual". How US Bank chooses to categorize them is a different matter, and I don't know.
@tigerdave wrote:
@hbbigdaddy wrote:
But I have a US Bank credit card that does 5% on fast food (not restaurants).
Considering how many fast food shops I do, this is intriguing. Do you know if 5 Guys falls under the fast food category?
Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008
If it is food, I count it as a gain for myself. Generally, I try to share restaurant food. But I take so many grocery shops that between those, and the restaurants where I do eat the whole meal, my out of pocket food bill is $0 for the month. I keep it as healthy as possible. I also get 3% back on my cc for restaurants and 2% for groceries.
Like for internal way of measuring, and not anything to do with taxes?
If so, I look at reimbursement shops as a way to NOT pay for things with my money, but with time. I don’t track THAT closely though.
For example, if I wanted that nice hotel shop out of Hawaii with rental car, flight, etc. as a shop, I wouldn’t mind burning the amount of hours of my time to get it done instead of paying out of pocket the amount to do it without working for it.
If so, I look at reimbursement shops as a way to NOT pay for things with my money, but with time. I don’t track THAT closely though.
For example, if I wanted that nice hotel shop out of Hawaii with rental car, flight, etc. as a shop, I wouldn’t mind burning the amount of hours of my time to get it done instead of paying out of pocket the amount to do it without working for it.
Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 33 year old male and willing to travel!
You need to do enough shops to get a 1099 from the MSC to even be on the IRS's radar.
Rosie, not any more. If any of your MSCs pay via paypal or other 3rd party paying systems, PayPal has to now send a 1099 if your payments for the year exceed $600. So while the individual MSCs may not send you a 1099, PayPal certainly will.
It's not profit when it's net zero.
"I told myself to quit you; but I don't listen to drunks." -Chris Stapleton
I do indeed count reimbursement as my personal profit. While it does not change my IRS bottom line I have still gotten the value of what ever reimbursements I have gotten during the year rather than spending my own post tax money to purchase the items. I do however discount the total in my mind as generally these are reimbursements I would not have paid for on my own dime at the rates charged at the mystery shop locations. However if I add in the tax I would have had to pay the IRS if I paid the amount of my reimbursements out of pocket I guess it is close to a wash. All in all I would say if I racked up $3000 in reimbursements in a year it would represent a $2500 savings out of pocket for me. I shop part time so the figures are not high.
You do pay for the item(s), but your expense is returned when the company processes payroll (as @HonnyBrown stated, it is net zero). The reimbursement does not always cover the purchase (i.e., $1 for an item at a convenience store to obtain a receipt - I generally buy a Coke and count the buck as a discount) so in this case, I definitely do not profit. I never count reimbursements as profit in my records because I would [most likely] not be shopping at the particular location required or ordering from the menu required if I was not performing a job for the MSC. I only count labor as profit. That being said, I personally do believe in tithing / offering on my entire amount of pay including reimbursements because the Good Lord blessed me with the health to be able to do the job (I was sick for a long time and still have many days that I cannot shop) and with a meal or some gas that I would have had to budget out otherwise. It is all in your perspective - if it makes you achieve a personal goal to count reimbursements as profit, by all means - count them! 
@johnb974 wrote:
I know reimbursements are not counted as taxable income, but do you count them as a profit for yourself? I keep shop fees and reimbursements separate on my ledger, but do you count them as part of your profits for the month or year? You didn't pay anything for the food or items.
Another way to get reimbursement shops to count as profit is if you’re able to double dip elsewhere. On my end, whenever I travel for my job, I just charge all meals to my company card. Dip it into a nice restaurant shop, my company pays for the meal as it’s the norm to cover food and lodging when I do site visits, pocket the reimbursement for completing a shop.
Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 33 year old male and willing to travel!
@Tarantado wrote:
For example, if I wanted that nice hotel shop out of Hawaii with rental car, flight, etc. as a shop, I wouldn’t mind burning the amount of hours of my time to get it done instead of paying out of pocket the amount to do it without working for it.
Does such a thing actually exist?
I believe a major dividing line is between those of us who shop to earn a living or add to our income and those of us who mainly shop for reimbursements. This dividing line is not a solid line between types of shoppers but I shop mainly for reimbursements. I have enough income to live on but don't mind spending some of my time to get what I consider a reimbursement that is worthwhile to me based on my tax bracket etc. I can pick and choose among jobs as I do not do this for income for life basics.
So for me I look at reimbursements as my "income" from shopping, not at the pitiful amount of cash I get on the majority of shops in my city. So for instance I do not do gas station shops. It is not worth my time to get a bottle of coke and a half gallon of gas as a reimbursement for the time I would have to spend to write a report and take pics etc for that. Occasionally I will take a high paying cash shop. Most shops here pay $8-12 and would get me way less than minimum wage. But a $40 reimbursement for something I would enjoy having is worth much more than minimum wage often spending the same amount of time to do the shop.
So for me I look at reimbursements as my "income" from shopping, not at the pitiful amount of cash I get on the majority of shops in my city. So for instance I do not do gas station shops. It is not worth my time to get a bottle of coke and a half gallon of gas as a reimbursement for the time I would have to spend to write a report and take pics etc for that. Occasionally I will take a high paying cash shop. Most shops here pay $8-12 and would get me way less than minimum wage. But a $40 reimbursement for something I would enjoy having is worth much more than minimum wage often spending the same amount of time to do the shop.
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