By Yolander Prinzel
You know that big, annoying wad of cash you keep reserved for quarterly estimated taxes? Yeah, you know the one–the wad that obnoxiously sits there for months tempting you to spend it on clothes, books, records, vacations, and fancy alcoholic drinks. Well, anyway, instead of letting it sit in your business checking account, why not move it to a money market account and earn some interest on it? Show that wad who’s boss by making a little interest off of its obnoxious little behind.
If you are lazy (like me) you can just open a Paypal money market account. The rates are not as competitive but if you get paid through Paypal often, you can just leave the money there and let it earn some interest.
Either way, it isn’t going to net you a ton of money and you will have to pay taxes on the interest, but hey, maybe the interest will be enough to offset that fancy alcoholic beverage you desperately need after filling out your 941 every quarter.
Yolander Prinzel, ACS is a financial writer as well as a series 7, 66 and 2-15 licensed financial representative with a decade of industry experience. She was the and the Director of Operations for The Compass Agency USA and has also been a trader for . None of her posts are meant to be advisory. Only an advisor with close, personal knowledge of your financial situation can offer advice. You can get her new e-book You’ve Found Your Specialty–Now What? Tips and Tricks to Finding and Scoring Clients and Making a Living Writing What You Know here for just $7.95.