Know THIS Before You Open a High Yield Savings Account

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Information Know THIS Before You Open a High Yield Savings Account

Title	:	Know THIS Before You Open a High Yield Savings Account
Lasting	:	3.04
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Views	:	24 rb

Do they just send it to us?
Comment from : @jenellclarke5222

Omg thank you for this video Didn’t think about this I started using HYSAs January of this year I’m currently using SOFI at HYSA at 460 and Amex at 335 I found Upgrade this morning at 505 I’m nervous about next year’s taxes I have 60k in SOFI and 25k in Amex Can’t imagine what to expect for next year’s taxes
Comment from : @steveramirez2269

Do you get taxed the same way in CDs?
Comment from : @lucasrisner1852

Bro Taxes on a HYSA is criminal
Comment from : @WtfReal

Hi mat in on social security and just open a Huss this year will I get a 1099 form?
Comment from : @yodleingcloud9612

how much money do you think we should put aside when tax season approaches ?
Comment from : @paulavaquerano280

So its taxed based off interest regardless if you take out money or not and regardless of how much you take out (if you decide to)?
Comment from : @jansan9125

It’s at 5
Comment from : @pavelstrelchuk216

Good advice 👍
Comment from : @ericbackstrom6223

If interest comes down can it go back up as well
Comment from : @dionkacraig7642

So yes or no to paying for taxes to a high yield saving accluntM
Comment from : @rdgamesdrip

Do u think it’s still worth it even if it’s taxed?
Comment from : @brendacastaneda

Thanks for telling us about the 1099-INT for interest earnings more than $10/year
Comment from : @tacrewgirl

Super informative thank u
Comment from : @user-lc9wy7ho6q

This is great info I wouldn’t have thought of Thanks for sharing!
Comment from : @jenkies89

This sucks! They can’t let us be great 🙄
Comment from : @MissPinkapples

This is such a straightforward video! Thank you so much, those points are not talked about enough
Comment from : @Lucildor

Thanks man, def subscribing I’m trying to educate myself on where to park money, and while there are a thousand videos out there on financial products, many of them are bloated and long Your method of being concise and valuable is rare
Comment from : @QEsposito510

BEEN LOOKIN ALL OVER FOR THIS VIDEO
Comment from : @mixedbread1

At what Percentage are your gains taxed on a HYSA?
Comment from : @loxtharippa

Even though we get taxed on interest we earn It`s worth it like you said I was able to earn over $20 in interest in one HY savings account within a few months When the money was in my old savings, I only earned $020 over 3 years with a 001 interest I learned about HYSA from online and from a financial advisor
Comment from : @pcpxbotendorastermace9948

Nice So what's the tax rate for HYSA? 15? Subscribed
Comment from : @joseCalderon1976

Good video topic! 😊
Comment from : @Papeeshka

OMG!!!! I didnt know this!! ugh!!! I just opened one!!😤😤🤬 NEW SUB!
Comment from : @MariRed310

Do you get taxed if you don’t use the interest money earned? Meaning if you just leave your money in the account and not withdraw it?
Comment from : @skrilaker

Is there ever a penalty for closing a hysa with CIT? Ia there a specific time it needs to stay open?
Comment from : @DirtydogMech

Becouse of hgt tesas
Comment from : @qalinlecilmi947

Taxation is theft
Comment from : @seminolekilla

Nice, quick summary Those interest rates may also go up, depending on what the Federal Reserve does As a matter of fact, they have gone up since this video was made
Comment from : @jerryspencer2598

Referendum 2024! No more taxes!!!
Comment from : @asimin290

Nice video, but this only applies to states that will tax u unless your state doesn't charge state taxes Luckily for me, mine ddoesn't Still educational video
Comment from : @curiousjorge

These points aren't covered in most videos related to HYSAsbrThank you for the helpful video
Comment from : @napoleonwilson3912

Thank you for this informational video! I had to specifically search for this as everyone speaks on the benefits of HYSA but don’t mention taxes It’s best to be educated going into it rather than blindsided come tax time
Comment from : @_charmzlove626

Given how increaseingly the republicans keep sticking their evil noses in all asspects of our personal lives; It'd be over-all safer to keep our money in a mattress so they can't come after it! what they dont know wont hurt us!
Comment from : @aarone9000

Whats the percent that the money gets taxed? Does the increase the more you get?
Comment from : @Delta-qz3mb

This is definitely something I needed to know Will this form be filled out by us or will I receive this in the mail?
Comment from : @bobbyg9621

Hi! I hope you see this- I have a question Do you think it’s ok to put all of my regular savings (low APY) into a heigh yield? Is there any benefit you can think of to keeping my old chase savings lol ?? Thanks I appreciate it!
Comment from : @rayna463

Everytime I go to the tax place they tell me since I don't work I don't got to pay interest but the moment I do I got to owe them some 🍞 back
Comment from : @Moneykingkevo

Thank you for covering topics that other financial youtubers haven't I learned something new today thanks to you!
Comment from : @christinak1713

Even if you do not receive a 1099 INT you are still required to report all interest earned Even amounts less than $10
Comment from : @CarysCorner

Thanks for the info! I won’t be filling anything other than my W2’s and Home Tax forms
Comment from : @kanecierra8940

I'm working towards putting 25k in my HYSA Thank you for this information!
Comment from : @gentlemansguidance365

Very informative & educational video! I learned something new today thank you !
Comment from : @merrymaurader2521

Can you share the nerd wallet link for historical savings rate (from 2:24)?
Comment from : @hotaabhijit777

Hi Matt!!brI found out the hard way about taxes on HYSA's!! Thank you so much for shedding light on these types of accts Really appreciate your well informed financial videos!!
Comment from : @tegxtegx