Archive for June, 2007

what is the percentage of tax and penalty on a health savings account?

Thursday, June 21st, 2007

Rob asked: I opened a Health savings account in 2007, I used some of the money to pay off some non medical bills, I was wondering what the income tax and penalty would be for this?Jerome Bick

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transfering from savings account to checking account, instant or does it take a couple days?

Wednesday, June 13th, 2007

arosen88 asked: I want to know if I transfer money from my savings account to my checking account does it transfer instantly or do I have to wait a couple days for the processing?Janet

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Where can I open up a savings account for free with little money?

Friday, June 8th, 2007

Parker asked: ‘m 18 years old, and want to start a savings account, but all the places I look charge a fee if you don’t have enough money in the bank, and I don’t want to mix it w/ my checking, because then I might spend it.
Any reputable banks that don’t charge you to open [...]

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What bank in the Chicago land area has the best interest rate for a Minor’s Savings Account?

Thursday, June 7th, 2007

Heather B asked: I am going to open a saving account for my nephew and was going to go through Fifth Third bank. I use Fifth Third personally but they only offer 0.10% interest on their Minor’s Savings Accounts. Are there any banks out there that give you more then that?Jeanie Welty

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Do I have to report interest earned on a savings account?

Thursday, June 7th, 2007

MJ asked: I filed my taxes and remembered that I had earned interest on a savings account. I know the interest earned totalled no more than $1, but I just wasn’t sure. My bank didn’t send me anything that referred to tax reporting.Maximo Posas

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