How to Manage Taxes on Interest Income | Rob CPA

Tax Planning Guide: Maximizing Interest Income from I Bonds, CDs, Money-Market Funds & Treasury Bills”
"Unlock the Secrets of Tax-Effective Investing! If you're an investor looking to capitalize on high savings rates and strong returns, don't overlook the tax implications that come with it. In this comprehensive video, we delve deep into popular investment avenues like I Bonds, Certificates of Deposit, Money-Market Funds, Treasury Bills, and Municipal Bonds.
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Discover:
- Which of these investment options are taxable and which are not
- How to structure your portfolio for maximum tax-efficiency
- Common pitfalls to avoid during tax season
Informed investors are successful investors. Equip yourself with the knowledge to make smarter financial decisions that will not only amplify your gains but also minimize your tax liability. Subscribe and tune in to ensure that your investments are as tax-smart as they are profitable.
🔵 About :
Rob CPA channel was created with a mission to provide viewers with accurate content so they can be proactive in their tax planning strategies and build financial wealth. The video topics I selected reflect real-world issues that I’ve seen our clients experience relating to their personal tax returns, retirement plans, and accounting.
The channel allows me to share my passion for taxes, personal finance, and accounting. I create content I wish schools and entrepreneurship programs/accelerators would teach their students and companies. I take complex topics and simplify them for the viewers as well as show examples.
I will be covering the following topics:
- Personal & business tax planning tips;
- Personal finance;
- Accounting;
- Investing;
- Entrepreneurship
New videos are released every week, so be certain to SUBSCRIBE! : shorturl.at/fL014
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[@mominfar]

I have an high yield saving account I will be earning interest end of the year let’s see 5000 and if I don’t use that 5000 and let it compound so in your video where are you input $750 so in my situation I can put 5000 there as well as I don’t withdraw that 5000

[@rob_cpa]

If I understand you correctly, you won't want to withdrawl the $5,000 - which is fine, but you will still get taxed on this interest income. You have to tell your bank to withhold taxes on that amount. So when you receive the 1099-INT form at the end of the year, you'll get credit for paying the taxes.

[@g.t.richardson6311]

@@rob_cpa or pay estimated tax , or have more withheld from w-2 employment, or have extra withheld from IRA distributions Lots different options

[@g.t.richardson6311]

don’t do it anymore, but from 1996 to 2021 I probably did about 6000/7000 tax returns , some were basic, but some high income, and high net worth individuals as well. Never once did I ever see a 1099INT, 1099DIV, 1099B with federal or state taxes withheld. I did have a number who paid estimated tax though. That’s what I do now. Have too