investment mida doubt

[Konebhar6]

6 hours ago, LakshmiParavathi said:

bank vadu 5 % APR istunadu CD investment cheste bagane vuntunda ? year lo entha tax kattali 1000$ interest money vaste

Y put in CD rather than a savings account which is giving same APR? CD locks your money, savings acc does not.

Also for a CD read terms and conditions. Sometimes there is a pre-withdrawl penalty. 

[Konebhar6]

5 hours ago, krishnaaa said:

Betterment is giving 5.25...no CD  needed. Just savings account.

2M FDIC

2M FDIC is misleading. Fine print chudu. 2M is if you have all of their accounts like Roth, Savings, etc. For savings its typically $250k.

[Spartan]

9 hours ago, LakshmiParavathi said:

florida, texas, DC no state tax kada anna 6% evarini adigi vesinaavu

adi teliyaka google chesa 6% sales tax anukunta u ca cut that 6% from it

[LakshmiParavathi]

On 9/21/2023 at 7:12 PM, Konebhar6 said:

Interest money is added to your income and you will be taxed based on your income bracket. For e.g. You put 20k in a CD at 5%. You get $1000 as interst income. Lets say your salary+ other income on W2 was 100k.

So your income now becomes $101,000. You will pay tax based on the tax bracket. Usually between 28-30% for most ppl. 

So on $1000 income you will end up paying $280 - $300 as tax.

for 250k - 300 k what is the tax bracket anna