Millennial Money: Bank bonuses, interest may boost tax bill

By CHANELLE BESSETTE of NerdWallet

If you earned a bank sign-up bonus or interest, you need to set aside some of it for taxes. Your tax bracket will determine how much you owe on your earnings, which will be between 10%-37% of the total. Avoid stress during tax season by setting aside earnings in advance. Also, don’t get a bank account simply for the bonus; you’ll want to make sure it has other good features. If you’re thinking about earning multiple bank bonuses, make sure you keep taxes and account requirements for each bonus in mind.