is it a good idea to seperate quarterly sales tax in a seperate account?

sz girl · 08-01-2007, 11:03 PM

ok- so does anyone want to share.....dundundaaaa....if they like to keep their sales tax money, workers comp, payroll taxes and so forth.. in a different account to earn interest, or keep everything ,lumped together.
my bank doesnt really offer any kind of incentive savings to keep things seperate.
but i do not like putting this money all together, only to have it VANISH when taxes are due!
anyone have any solutions? or should i just accept and move on?

JGAviator · 08-02-2007, 07:15 AM

It's a great business practice to "earmark" those funds and if you can have your bank link up a savings account with a decent interest rate, even better.

cametotalktan · 08-02-2007, 12:12 PM

I haven't really looked to hard. But none of my banks have ever offered anything for the business other than the usual checking.

caribbean tan man · 08-02-2007, 01:28 PM

u could get one of those high interest online savings account. i have one but it dosent allow for business account transfers. so i transfer from my biz to my personal then to my online bank....good way to make a few bucks!

engfant · 08-02-2007, 01:51 PM

ingdirect.

Pays about 5% interest compared to the usual 0% everywhere else.

Mr Derf · 08-02-2007, 02:12 PM

I gotta start doing that. Next thing you know all the tax money is snorted up.

sz girl · 08-02-2007, 02:42 PM

engfant...what is "ingdirect" ?

Mr Derf · 08-02-2007, 03:02 PM

Here you go sz, I love you.

http://www.ingdirect.com/osa_work/

sz girl · 08-02-2007, 03:06 PM

heart ya back- thanks for the link!

sz girl · 08-02-2007, 03:08 PM

oohh do u use this?

08-01-2007, 11:03 PM	#1 (permalink)
sz girl I love Derf!! Join Date: Apr 19 2007 Location: usa Posts: 409 Rep Power: 2	is it a good idea to seperate quarterly sales tax in a seperate account? ok- so does anyone want to share.....dundundaaaa....if they like to keep their sales tax money, workers comp, payroll taxes and so forth.. in a different account to earn interest, or keep everything ,lumped together. my bank doesnt really offer any kind of incentive savings to keep things seperate. but i do not like putting this money all together, only to have it VANISH when taxes are due! anyone have any solutions? or should i just accept and move on?

08-02-2007, 07:15 AM	#2 (permalink)
JGAviator Join Date: Sep 20 2006 Location: Smithtown, NY Age: 39 Posts: 63 Rep Power: 0	Re: is it a good idea to seperate quarterly sales tax in a seperate account? It's a great business practice to "earmark" those funds and if you can have your bank link up a savings account with a decent interest rate, even better. __________________ Tan Crazy.

08-02-2007, 12:12 PM	#3 (permalink)
cametotalktan I love Derf!! Join Date: Jul 10 2004 Location: california Posts: 4,970 Rep Power: 35	Re: is it a good idea to seperate quarterly sales tax in a seperate account? I haven't really looked to hard. But none of my banks have ever offered anything for the business other than the usual checking. __________________ When I grown up I want to be Angerfant.....

08-02-2007, 01:28 PM	#4 (permalink)
caribbean tan man DERFTALK FBI AGENT Join Date: Jul 29 2003 Location: northeast Age: 32 Posts: 5,299 Rep Power: 31	Re: is it a good idea to seperate quarterly sales tax in a seperate account? u could get one of those high interest online savings account. i have one but it dosent allow for business account transfers. so i transfer from my biz to my personal then to my online bank....good way to make a few bucks! __________________ someone PM me when a good tanning topic is posted. :lol:

08-02-2007, 01:51 PM	#5 (permalink)
engfant FREE ENGFANTUCATION Join Date: May 20 2003 Posts: 9,442 Rep Power: 13	Re: is it a good idea to seperate quarterly sales tax in a seperate account? ingdirect. Pays about 5% interest compared to the usual 0% everywhere else. __________________ "And shut your mouth pussycat e fammi un macchiato, pronto!" http://www.youtube.com/watch?v=UhHhXukovMU

08-02-2007, 02:12 PM	#6 (permalink)
Mr Derf Vote Derf 4 Prez! Join Date: Jun 29 2006 Location: NE Age: 46 Posts: 2,470 Rep Power: 9	Re: is it a good idea to seperate quarterly sales tax in a seperate account? I gotta start doing that. Next thing you know all the tax money is snorted up.

08-02-2007, 02:42 PM	#7 (permalink)
sz girl I love Derf!! Join Date: Apr 19 2007 Location: usa Posts: 409 Rep Power: 2	Re: is it a good idea to seperate quarterly sales tax in a seperate account? engfant...what is "ingdirect" ?

08-02-2007, 03:02 PM	#8 (permalink)
Mr Derf Vote Derf 4 Prez! Join Date: Jun 29 2006 Location: NE Age: 46 Posts: 2,470 Rep Power: 9	Re: is it a good idea to seperate quarterly sales tax in a seperate account? Here you go sz, I love you. http://www.ingdirect.com/osa_work/

08-02-2007, 03:06 PM	#9 (permalink)
sz girl I love Derf!! Join Date: Apr 19 2007 Location: usa Posts: 409 Rep Power: 2	Re: is it a good idea to seperate quarterly sales tax in a seperate account? heart ya back- thanks for the link!

08-02-2007, 03:08 PM	#10 (permalink)
sz girl I love Derf!! Join Date: Apr 19 2007 Location: usa Posts: 409 Rep Power: 2	Re: is it a good idea to seperate quarterly sales tax in a seperate account? oohh do u use this?

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