According to my mailbox, it’s tax time. “The Running of the 1099s”, if you will. I got a note from Discover Bank Savings saying that I was not going to get a 1099. That’s right. They sent me something saying they weren’t going to send me something. I betcha if they do something that isn’t on their “To Do” list, they go back, write it on the list, then cross it off.
Why no 1099? Although Discover Bank’s Savings pays a pretty nice rate of .95%, I had my dough elsewhere in 2015.
I didn’t earn $10 in interest at Discover. That is the cut-off point. Banks don’t have to send you a 1099 if you made less than a sawbuck.
Stupid Tax Tip #1: Open 1,000 accounts. Put $100 in each. Don’t report interest (…but you should report it).
Artwork: LeeRobert (I added the “$” icing – pretty sweet, huh?)