Do I have to pay taxes on a money market deposit account?

Answer Interest that you earn from your money market deposit account must be reported as taxable income. You will receive a form 1099-INT from your bank showing how much you were paid in interest for the ... Read More »

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What is a money market deposit?

According to the Federal Deposit Insurance Corporation (FDIC), money market deposit accounts are an investment product offered by banks. These accounts earn interest and offer a limited number of t... Read More »

How to Deposit Money Into Your Bank Account?

Many establishments require employees to utilize direct deposits for paychecks, but there are a number of companies that still use paper check systems. Then there's the $20 check grandma sends you ... Read More »

How do I deposit money in a checking account?

Use a Deposit SlipFill out a deposit slip using your checking account number and the amount you wish to deposit. Be sure to date the slip, and separate cash from checks if there are separate sectio... Read More »

Is there a difference between the APY on a savings account& a high-yield money market account?

No, the formula for annual percentage yield (APY) is one plus the periodic interest rate. Then raise the sum to the power of the number of periods of investment. Finally, subtract one. The formula ... Read More »