GMercyU Professors Share Expertise with MoneyGeek and WalletHub
MoneyGeek Features Adjunct Professor in Accounting Carlo Silvesti
Adjunct Professor in Accounting Carlo Silvesti shared his expertise with MoneyGeek for an article in September 2024 about cash back credit card rewards. The article focused on the idea that credit card cash back rewards are considered non-taxable. Typically, MoneyGeek writers explain, cash back rewards against a credit card balance are treated as a rebate.
While cash back rewards are typically treated as a rebate, Professor Silvesti shared that when individuals utilize a personal credit card to make business purchases, the cash rebate is taxable if the person is reimbursed for the full amount of the purchase.
He also shared that there is no minimum or maximum threshold for cash back taxability and cash back earned on gift cards or merchandise is not subject to different tax treatment.
Read more here.
WalletHub Features Assistant Professor of Marketing Melissa Dennis, DBA
Assistant Professor of Marketing Melissa Dennis, DBA offered her expertise in a recent WalletHub article focused on Pennsylvania car insurance and celebrity endorsements. The article featured the top five cheapest care insurance companies, broken down by various categories including young drivers, older drivers, drivers with poor credit, and more. WalletHub also broke down the cheapest car insurance by cities in Pennsylvania.
Professor Dennis shared her expert opinion on the marketing tactics of car insurance companies, including the use of celebrity endorsements. She shared that, while car insurance may not be the most desirable thing to shop for, “celebrity endorsements put a personality and a face to the insurance, helping companies establish trust and credibility and enhance brand recall.”
When asked if car insurance companies’ intention is to mislead customers, she debunked this myth by sharing that the marketing tactics are designed to create an emotional relationship between the consumer and the customer.
“Marketers need to ensure they are not overemphasizing the endorsement at the expense of the details and the benefits of their insurance. Consumers may decide on the perceived quality of the insurance if the celebrity is well respected; they may also make emotional decisions based on a preferred personality,” Professor Dennis shared with WalletHub.
Read more here.