So if I have a bank account lets say at wachovia and I deposit my work check in there. Now the govt. already took taxes out on that check. Anyways I let it sit iin a savings acct and it gains some intrest I have to pay taxes on that? That sux! Ok I sent out a few pms of last place we saw each other and name.
yeah, no shit...it's like you get penalized for saving up. Banks charge you if you use your savings too much (more than the allowed withdrawals in a given time period) and the gov't charges you taxes on the interest you make in it...everybody gets a cut of your money. That's when tax shelter's, organizations, and donations come in handy...Originally Posted by yamalube4011
But on the other hand, if it's in a bank it is in a safe place (up to $100,000 each account anyways) and by the end of the year you'll still always have more than you started with. It's still usually alot better than a jar buried in the back yard
Lolyeah, no shit...it's like you get penalized for saving up. Banks charge you if you use your savings too much (more than the allowed withdrawals in a given time period) and the gov't charges you taxes on the interest you make in it...everybody gets a cut of your money. That's when tax shelter's, organizations, and donations come in handy...
But on the other hand, if it's in a bank it is in a safe place (up to $100,000 each account anyways) and by the end of the year you'll still always have more than you started with. It's still usually alot better than a jar buried in the back yard
STILL waiting on a reply...
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