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Low interest rates on savings accounts
at least mean less taxes

The certificate of deposit we count as our emergency fund rolled over for another term last month.

The good thing about the CD is that we can take it out before its maturity date without any early withdrawal penalty.

Percent_red The awful thing about the CD is its incredibly paltry interest rate.

When things get a little less hectic around our house, the hubby and I are going to find a financial institution and savings vehicle that pays more.

I've complained before about the disparity in rates charged by banks for loans and the ones they offer savers.

In today's New York Times, Your Money columnist Ron Lieber discusses seven reasons why savings account rates are so pathetic.

Less earned, less paid the IRS: The only dim silver lining in this situation is that at least we (and other similarly situated savers) will owe a tiny bit less in taxes.

Remember, dividends income usually is taxed at ordinary income tax rates, not the lower capital gains tax rates that apply to profits from the sale of long-term assets or some qualified dividends.

Right now, though, I'd happily pay the IRS a few more dollars in April for more current cash on hand.

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