Originally posted by: jmcoreymv
What if I dont have any "bills"? Could I pay myself to another bank account?
I dont understand this, can someone please clarify.Originally posted by: robsdeals
Remember, they charge the value of the unit to you account like it was interest. So you have to pay tax on it at the end of the year. if it is a $300 retail value and your in a 30% tax bracket you'll $90 for it.
Originally posted by: DaCurryman
I dont understand this, can someone please clarify.Originally posted by: robsdeals
Remember, they charge the value of the unit to you account like it was interest. So you have to pay tax on it at the end of the year. if it is a $300 retail value and your in a 30% tax bracket you'll $90 for it.
Gift for opening account. If you receive noncash gifts or services for making deposits or for opening an account in a savings institution, you may have to report the value as interest.
Example. You open a savings account at your local bank and deposit $800. The account earns $20 interest. You also receive a $15 calculator. If no other interest is credited to your account during the year, the Form 1099-INT you receive will show $35 interest for the year. You must report $35 interest income on your tax return.
Originally posted by: robsdeals
Remember, they charge the value of the unit to you account like it was interest. So you have to pay tax on it at the end of the year. if it is a $300 retail value and your in a 30% tax bracket you'll $90 for it.
Originally posted by: Pingping
Also note that this account needs a minimum balance of $1500, otherwise there will be a monthly fee.
Checks are also quite expensive (about $1 each). Read the conditions carefully before you apply.