investment mida doubt

[LakshmiParavathi]

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

[Spartan]

1000$ ki neeku vachedi 50$ dantlo tax kattedi 20-23$ if u r in CA

[Pandubabu]

1 minute ago, LakshmiParavathi said:

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

Adhem question Parvati,tax depends on your tax bracket 

[LakshmiParavathi]

2 minutes ago, Spartan said:

1000$ ki neeku vachedi 50$ dantlo tax kattedi 20-23$ if u r in CA

1000$ naku intrest vasthe entha kattali ani adigina anna

30 K CD and 1 year with 5% APR ipudu chepu naku interest entha vastundi year end deeeniki entha tax kadutha

[sarvayogi]

3 minutes ago, LakshmiParavathi said:

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

nee bocchulo 1000 dollars kosam INVESTMENT ani pedda pedda padalu and oka taadu why...

[LakshmiParavathi]

Just now, sarvayogi said:

nee bocchulo 1000 dollars kosam INVESTMENT ani pedda pedda padalu and oka taadu why...

nuvvu india lo ekadanundi vachinaavu marchiipoku bocchulo 1000 dollars is 85,000 nee laga chala vunaru india lo bike and car lekunda vachi ikkaada kathal 10getollu

[Spartan]

2 minutes ago, LakshmiParavathi said:

1000$ naku intrest vasthe entha kattali ani adigina anna

30 K CD and 1 year with 5% APR ipudu chepu naku interest entha vastundi year end deeeniki entha tax kadutha

1500 pre-tax
 

after tax (assuming you ar in top tax bracket and CA) - 800$ ostai approx

 

[LakshmiParavathi]

2 minutes ago, Spartan said:

1500 pre-tax
 

after tax (assuming you ar in top tax bracket and CA) - 800$ ostai approx

 

1500$ pre tax . Florida lo vunte 1500$ ki entha kattali

[Spartan]

5 minutes ago, LakshmiParavathi said:

1500$ pre tax . Florida lo vunte 1500$ ki entha kattali

6% florida state tax.

around 950 ostai.  (30% fed tax rate vesa)

[LakshmiParavathi]

2 minutes ago, Spartan said:

6% florida state tax.

around 950 ostai.  (30% fed tax rate vesa)

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

[idibezwada]

say you make 100K and you got $1k in interest you got to pay taxes for 101k whatever for bracket you fall under 

[hydusguy]

38 minutes ago, sarvayogi said:

nee bocchulo 1000 dollars kosam INVESTMENT ani pedda pedda padalu and oka taadu why...

sample 1000 ivhadu.. 100million ante daduchukuntavani

[krishnaaa]

43 minutes ago, LakshmiParavathi said:

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

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

2M FDIC

[summer27]

53 minutes ago, Spartan said:

1000$ ki neeku vachedi 50$ dantlo tax kattedi 20-23$ if u r in CA

@Spartan interest ee $1000 antunnadu spartan.. ante $20K CD estaa antunnadu..

[Konebhar6]

5 hours ago, LakshmiParavathi said:

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

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.