: If I were receive an ,000 inheritance & want to open a business, what taxes would I owe? I am receiving about ,000 inheritance, and I want to start a business. How much would I be taxed or be deducted if I were to put

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You won't be taxed for putting it in a savings account (except on any interest that is subsequently paid). If the money is from a taxable source, then you're liable to pay tax on its receipt whether you then put it in a savings account, stuff it under your mattress or burn it. If you're planning on the basis that you might (by not putting it in a bank) be able conceal its existence from the tax authorities so that you don't have to pay the tax that's due then you're asking for advice on breaking the law, which is out of scope for this forum.