Nov
10
If I made $300 in interest this year let’s say – does the government take as much from that as they would my paycheck? Is it even worth saving to gain interest?
Tags: Account/cd's, Does, Even, government, money, Much, Putting, Savings, Take, Worth
You’re not losing any of your savings so what’s the problem? The government only taxes you on the interest you made, so if you made $300 in interest just remember you’re only bringing half of it home. It’s better than putting your money in a no-interest account and not earning anything.