Quote:
Originally Posted by yys
If I understand CD's correctly they are pretty much the equivalent of GIC's in Canada. If thats the case then after inflation and taxes are factored in you actually lose money. I posted this on here sometime back in '04 for the Canadians who were using GIC's to stash there cash; it's probably just as relevant to you and CD's.
Of course all this could be wrong  depending on how the U.S. treats CD's for tax purposes. They still suck for after inflation returns though. |
thats an interesting read, But I dont pay as high of taxes as you do. IN fact on that, if the account does not make more than 600$ per tax year, I dont think it has to be claimed.