6 Tax Myths Everyone Should Know

AAA

Don't you love a huge refund at income tax time? As it turns out, a big tax refund may make you feel good but it's not actually good for you. It means that way more than necessary was being withheld from your paycheck or, if you're self-employed, that your quarterly tax payments were much too large. The notion that large refunds are good is but one of the many enduring tax myths. Here are five others you should be familiar with.

  1. No results found.
Related Articles
  1. Taxes

    6 Tax Myths Everyone Should Know

    The notion that large refunds are good is but one of many enduring tax myths. Here are five more you should know.
  2. Taxes

    The Tax Refund: When It Hurts Your Retirement

    A refund can represent a lost opportunity cost for things you could have done in the past.
  3. Taxes

    6 Ways the IRS Can Seize Your Tax Refund

    There are debts that can make the government seize your tax refund. Here are the six most prominent, plus what to do if it happens to you.
  4. Taxes

    6 Cheap Alternatives to a Tax Refund Advance

    Tax-preparation companies offer tax refund advances to get customers in the door and collect fees on other services. Here are 6 cheap alternatives to them.
  5. Personal Finance

    Tax Credits That Can Get You a Refund

    Here are a few of the credits that may result in a refund check, even if you owe no taxes this year.
  6. Taxes

    5 Ways To Double Your Tax Refund

    Many companies offer incentives that allow you to multiply your tax refund - at a price. Here are five of the more popular promotions this year.
  7. Retirement

    7 Counterintuitive Retirement Strategies That Work

    We address seven investment misconceptions, and how you can make your retirement plan make sense.
  8. Taxes

    5 Ways To Receive Your Tax Refund

    Taxpayers in the U.S. can receive their income tax refund in many different forms - checks, debit cards, savings bonds and direct deposits. Find out which one is right for you.
  9. Personal Finance

    Are 'Free' Tax Refund Loans Really Free?

    While tax refund loans are now completely free, getting one can cost you in tax prep and other fees.
  10. Taxes

    Top 6 Reasons You Could Face a Tax Refund Delay

    Several factors could lead to a tax refund delay, such as having errors in your filing or claiming certain credits that are favored by the cheats.
Hot Definitions
  1. Risk-Return Tradeoff

    The principle that potential return rises with an increase in risk. Low levels of uncertainty (low-risk) are associated with ...
  2. Racketeering

    A fraudulent service built to serve a problem that wouldn't otherwise exist without the influence of the enterprise offering ...
  3. Aggregate Demand

    The total amount of goods and services demanded in the economy at a given overall price level and in a given time period.
  4. Fixed Cost

    A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses ...
  5. Blue Chip

    A blue chip is a nationally recognized, well-established, and financially sound company.
  6. Payback Period

    The length of time required to recover the cost of an investment. The payback period of a given investment or project is ...
Trading Center