Do you pay taxes on a high-yield saving account ?

A high-yield saving account is great way to put money aside for an emergency

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it's also help for your wedding or a new car

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A high-yield saving account is very safe and low risk

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The average intrerest rate for a regular saving account is currently around 0.37%

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While the average rate for high-yield saving account is about 3.5% to 4.5% or more

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Because saving accounts earn income, the IRS considers them taxable income

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You don't need to pay taxes on your saving account balance, only on the interest you earn on the account

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Swipe up to know about Best rate for a high yield saving account

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