hi, everyone welcome to "on the money". i'm contessa brewer in for becky quick. one jet company left a trail of broken presidentials, outraged customers, and security concerns >> i advise you to [ bleep ] to new yo new york right [ bleep ] now if you're drinking less soda >> it is that time of year what you need to know to file with the new tax code. >> how to save money when you are planning that spring break

getaway. >> announcer: this is on the money. your life, your future it was dubbed the uber of air travel a company called jet smarter was worth a billion dollars and made private jet travel easier and more affordable. now an investigation finds the company, known for glamour in the sky, is caught in a downward draft, facing angry members and questions about security here's robert frank with tailspin >> i'm obsessed with jet is smarter. >> i'm about to take off for l.a. >> super cool. >> jet smarter. >> jet smarter >> jet smarter. >> i have a great life i'm jet smarter. >> it took the private jet set by storm ♪

with a app and dazzling campaign and press coverage, the company had a star-studded takeoff, raising millions from early investors that included the saudi royal family and jay-z and there was no shortage of big name endorsements. jet smarter signed up 10,000 members and became the first flying unicorn valued apt over $1 billion but our investigation were found behind its elite image, jet smarter has left a trail of outraged customers millions of dollars in losses and concerns about some passengers on flights. customers around the country some paying nearly $100,000 for a multiyear membership now call the company a fraud. a high-tech shell game and unlawful bait and switch >> the way the system works is

natural ecosystem. >> it all sounded so presidentialing in 2016 when jet smarter's then 27-year-old ceo and founder appeared on cnbc we offer about 50,000 hours of scheduled flights every year that's like 120 flights a day. there is plenty of lobster for everybody to go around >> and the members feasted, at least in the beginning unlike most private jet companies, they sell individual seats on its planes, which customers book with its app. sally more ch sally horchow paid a $9,000 annual membership to join in early 2015 which allowed her in limited flights. >> the value proposition in the original company was just kind of ridiculous. it seemed too good to be true really >> it was too good to last jetsmarter began stripping away

the benefits of membership no more free choppers. no more free food. last year it told customers they would now have to pay for flights which were supposed to be included in their membership. >> holy [ bleep ]. this is not what i signed up for. this is bait and switch. >> the changes made their expensive memberships virtually worthless. the company's membership agreement says that the terms are subject to change, suspension or term nation at any time in a statement to cnbc, jetsmarter said the vast majority of of our core customers understood the necessity of these and is elevating the quality of people flying together. andrew pressler was one of the people signing up those members. he said he was under pressure to hit aggressive sales targets >> every other month there was a

new what the salesforce would call money grab. >> pressler was fired. the company said it was poor performance and he lied to customers. he said it was likely due to a call over a competing job offer. he posted what happened on linkedin he called the company cold hearted for firing him but said he remained passionate about the product they provide then he got this threatening letter from jetsmarter's general counsel, calling it false and libelous. >> why were they so threatened by me? i don't know maybe because the truth got out >> jetsmarter has also will fallen short on promises to investors. jet smarter made this in 2017. revenues would grow from $252 million to more than $2 billion in just two years.

and membership would jump from over $11,000 to over $100,000 by 2020 but the losses kept growing. today's membership only around 8,000. jetsmarter refused to comment on its financials members are also concerned he about the security aboard jetsmarter flights >> get me to new york now. >> we obtained this video of a disk jockey aboard a jetsmarter flight from las vegas to white plains, new york about 45 minutes into the trip, according to court records, he began threat epping passengers >> heads will be chopped off >> the pilot made an emergency landing in nebraska where authorities subdued and arrested him for making terroristic threats. jetsmarter said it has the most rigorous standards including background checks on a majority of customers before they fly

and on the ground security teams that screen for narcotics, explosives, cache and weapons for shared flights but two people on the flight told us there was no security check and there was this red flag just three days before the flight, paola had tweeted from a jail cell to the private jet, they can't stop me customers and crew also say they witnessed passengers trying to carry drugs or cache on their flights. this suitcase packed with suspected marijuana was confiscated from a passenger, the picture taken by a crew member >> there were definitely drug dealers of all kinds who were carrying lots of can cash on the planes and designer bags >> jetsmarter denied any allegations of fraud or bait and switch tactics while acknowledging that a number of members are unhappy with is certain changes. the company said it is more

positive about the heatilth of r business than ever the original jetsmarter dream appears to be further and further away we have also learned that the fbi has been asking questions about jetsmarter the nature and subject is unclear. an industry executive we spoke with said he was questioned by two fbi agents about the company's business, its sources of funds, and the cash on its flights. the fbi won't comment on any potential investigations >> so they said they would increase to 100,000 flying members. yet they started charging people for the actual flights they were booking instead of a free for all. how did they plan to make money? what was the end game? >> that is the key question. no one knows the answer to that. that's the question andrew and others were asking there was a theory maybe if they

got a critical mass, eventually it might make money if you had enough people flying on the planes the other is he wanted to build a community of rich people that he could then sell other products to. so it would be like a lost leader on the planes but monetize it in a community at large. no one could answer the question what is the end game clearly you're losing money when all you can fly for that amount of money how are they ever going the make money. >> right right. thanks for the story, robert next "on the money". looking for a healthy alternative into soda. how a woman turned her idea into $100 million in sales. >> will you pay more under the the new rules or will you get a tax consult? you'll find out soon and now a look at how the stock market ended the week.

♪ she was a addicted to diet coke, drinking 10 to 12 cans per day. she knew she needed to kick the habit to lose weight but drinking waters of boring. so she came up with a flavored water with no calories or or added sugar. her family loved it and convinced her to start a company. hint launched in 2005. today the company has more than $100 million in annual sales kara joins us now. congratulations on hitting that milestone. >> thank you >> what made you think that you could get success by selling water? >> so i saw in my own life when

i gave up drinking diet soda, i switched to plain water. then i found it really boring. i starred slicing up fruit at home i looked in all the great markets. whole foods in particular was the one i was going to and i couldn't find this prubg on the market. so i was looking for a product that not only didn't have sugar in it but also didn't have diet sweeteners in it little did i know the huge real estate model that exists in the beverage industry and probably in the food industry that really is incredibly competitive. probably one of the most in, you know, food and beverage. >> so you are competing not only with bottled water but now you have a seltzer product. >> right. >> you are competing with sam pell green know, perrier

>> i don't really view us competing against water. it is the people that are leaving diet soda, leaving the flavored waters that really aren't water at all because they have sweeteners in them. vitamin waters, for example, is another one. and really looking for an alternative. so we are that bridge. you have the watermelon here we started with that as a still water. then we moved into carbonated we came out with a boxed version as well. when people are putting birthpa together they are looking for better foods for themselves but also for their kids. >> you came from aol >> yeah. >> you started a beverage company. was there anything in your previous life as an executive in the corporate world that helped you push this forward into the success it's become?

>> i think in tech, maybe because it's a younger industry, i felt like let's put the puzzle together and keep searching for the answers. when i jumped over into the beverage industry, i felt like everybody -- like we wanted to launch a product that didn't have preservatives in it in addition to no sweeteners in it. and i thought it was interesting because everybody said that can't be done. and i kept asking the question why. >> is that why you launched the sunscreen? >> yeah. i was looking at all the sunscreen on itselves and was looking for something that deny have parabens we are using the fruit to scent the sunscreen as well. we will tackle other categories in order to really help consumers live a healthier life. >> cheers to that.

>> thanks for having me. appreciate it. up next, we're on the mope tax season starts monday what's changed other than the new tax laws what could it mean to your wallet later, looking to get away without breaking the bank? destinations and deals for a great vacation apt a great price.

my mom washes the dishes... ...before she puts them in the dishwasher. so what does the dishwasher do? cascade platinum does the work for you, prewashing and removing stuck-on foods, the first time. wow, that's clean! cascade platinum. ♪ and if you feel, like i feel baby then come on, ♪ ♪ oh come on ♪ let's get it on applebee's. now that's eatin' good in the neighborhood.

[ neighing ] [ screeching ] ♪ [ sigh ] it's bring your own phone, not pony. so i could have taken the bus? yeah. bring your phone. switch your carrier. save hundreds a year with xfinity mobile. plus get $100 back when you bring in an eligible phone. call, click or visit a store today. ♪ here we go again that time of year, tax season. the irs begins accepting returns

monday it is the first time everyone will be filing under the new tax code what you need to know to get ready is sharon epperson it's great to talk to you. what are the biggest changes we're going to encounter this year >> well, 2018 is the tax year where we saw the big changes with all of those tax cuts that happened and so what we're going to see is the difference in terms of the standard deduction that has nearly doubled to $24,000 for a married couple, $12,000 if you're single deductions going away. we have a cap on local and state deductions of $10,000. we're also seeing a higher child tax credit of $2,000 opposed to $1,000 so there are a lot of changes. the miscellaneous deductions you liked like writing off your tax prep fees, can't do that anymore. >> let's talk about the thick paperwork. have the forms changed >> the forms are not different but the timing of i. >> you have to double-check and make sure you are getting what

you need you have to have your w-2 for wage information if you are self-employed independent contractor, look for the 1099 forms they should come this month. savings, interest from that, those interest statements should be coming soon this month as well but you also want to keep in mind if you're looking for credits or deductions, there's going to be paperwork you want to make sure you have to make sure you get those deductions. whether that is property taxes, student loan and, child care expenses and mortgage interest >> if the irs comes back. >> you have to prove it. >> what are the ways people can file every year we seem to have more options. >> $66,000 or less, free file. make sure you do it electronic filing use tax prep software. and irs.gov will tell you the ones they believe are the

legitimate ones to use in terms of tax prep software go to the website if you want to find a tax professional who files electronically right in your area. just put in your zip code. >> since before christmas we have been hearing about the government shutdown. what impact will that have on terms of filing. >> it doesn't change the date. january 28th is the date you can start filing it doesn't change the daylight they're due. you have to have tax returns in by april 15th. they say it will not change in terms of your refunds and getting your refunds in a timely manner but you never know if people don't show up to work, there is a limited workforce that will be in place there. they are saying there's no delay, but that is not a guarantee. again, you shouldn't be expecting a big tax refund anyway because that means you weren't necessarily managing what you were supposed to be doing. if you are, don't count on it right away >> great advice, sharon >> sure. up next, "on the money". a look at the news for the week ahead.

from flights to hotels, how to find the best deals and destinations for a spring break getaway. an dishes? using multiple cleaners on grease can be expensive, and sometimes ineffective. for better value, tackle grease with dawn ultra. dawn is for more than just dishes. it provides 3x more grease cleaning power per drop, which cuts through tough kitchen messes, pre-treats laundry stains, and even tackles grease build-up on car rims. tackle tough greasy messes around your home, and save money with dawn ultra. brand power. helping you better. in't easy. 12 hours? 20 dogs? where's your belly rubs? after a day of chasing dogs you shouldn't have to chase down payments. (vo) send invoices and accept payments to get paid twice as fast. (danny) it's time to get yours! (vo) quickbooks. backing you.

your digestive system has billions of bacteria, but life can throw them off balance. re-align yourself, with align probiotic. and try align gummies, with prebiotics and probiotics to help support digestive health ♪ here are the stories coming up that could affect your money this week. on tuesday, we'll get the home price index november hope birthday oprah. she is el available for medicare

at 65. the federal reserves open market committee will make a statement about interest rates after a two-day meeting. friday we will see how many cars and trucks were sold in january. and the closely watched jobs report for january will be released with winter still upon us now may be the perfect time to start planning a spring break trip which destinations offer you the best bargains for your dollar. a company that analyzes airline prices and tells consumers find the best time to book. thank you for being here >> thank you. >> i had no idea it was important to look at the time you want to get away but when you are actually booking the trip. >> yes. that's one of the biggest ways people can be saving on these spring flights people can save up to 40% on a flight if they book far enough in advance but the key thing to do, and right now is a great time, start is tracking your prices early.

prices will fluctuate between now and spring over 100 times. >> wow. >> it is crazy much more than most people expect that's why we asked to delegate to us or another tracking service so the machines can do the work for you and send you notifications when the prices are at their best. >> where are they likely to find the biggest savings? >> for spring, we found great destinations washington, d.c. is at the top of the list. 30% off if you start tracking now. it is a great time to go >> and you have to bet that the government is going to be reopening in spring so you can go, say, visit the smithsonian >> exactly now is probably not the best time to be going spring should be great for that. orlando, florida is really popular with families usually for spring break that is also pretty high up on the list 32% off if you start tracking now. >> what if you want to leave the country? >> we're seeing some great deals to cancun, mexico.

about 38% off. that's a huge drop if you start tracking now and maybe you want to go to europe we see prices to milan for about 28% off if you start tracking now. >> i'm really struggling right now. what tips do you have if people are trying to book a flight for very popular times >> demand correlates with pricesment the more people want to go somewhere, the higher it is going to cost some things you can keep in mind are basic economy. you can save about 5% if you book a basic economy seat. so take into consideration, if you're flying with your family, maybe you can't do that because you can't select your seats. you will have to pay for those >> or an excuse to pawn your kids on other passengers who is are sitting there. if you are willing to take a flight that has to stop and change planes, it can sometimes be cheaper >> yes absolutely 5%, actually >> how about hotels? how do you save money on hotels?

>> now is the time to start thinking about purchasing a room special seasonal discounts after the holidays contrary to popular belief, you can find special deals further in advance they will start 21 days in advance of your trip consider those hotels a little earlier than you might traditionally think. >> it is great advice. liana, thank you so much >> thank you. that's the show for today. i'm con testa brewer becky will be back next week each week keep it right here we are "on the money". have a great one we'll see you next weekend

welcome. we are live. we ha big show on deck here's what's coming up. ♪ it's the final countdown" >> announcer: it's the final countdown to the biggest week for earnings season. it could be make or break time for wall street as some of the biggest tech stocks report dan and mike will tell you how to trade it. and if that's not enough for you. >> i'm in a glass case of emotion. ♪ oh, freak out >> investors are awaiting a key fed meeting on wednesday and the master says there is