It sounds like you're asking if the amount you withdraw from your savings account should be equal to the difference between your federal taxes and state taxes.
- Generally, the amount you withdraw from your savings account doesn't need to be directly related to your tax liabilities.
- Withdrawals from a savings account are not typically subject to federal or state taxes.
- However, the interest earned on the savings is usually taxable
Reach back out with additional details and we can provide more specific answers.
