The Tax Savings balance** is a seamless way to set aside money you want to reserve to pay taxes on your 1099 income. You can add to this balance at any time or set up automated Tax Savings when you set up your Mymo Spending Account to receive direct deposit.
Money in the Tax Savings balance is always available to you and can be moved to your Spending balance instantly at any time. Tax Savings is not a Savings Account and does not earn interest.
**The Tax Savings balance is not a separate account.