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Home » Tax

How much income tax do savings cost?

Submitted by on March 25, 2010 – 11:38 pmNo Replies


A web user asks, I’ve heard that you only have to pay income tax on savings accounts if you take out money. Is that true? If you do take out money how much do you have to pay. What if you took out money to pay for classes, will you have to pay less income tax; how much less? What other things can you buy that will cost you less or no income tax? Can you give me an example?

Can you help them out? Post your advice!

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