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. Retirement

    5 Top Tax Season Questions

    A tax pro answers questions she hears most often and quashes some myths.
  3. 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.
  4. Taxes

    IRS Refund Lost? Here's What to Do

    Don't panic. There are a number of reasons your refund might be delayed – and solutions for each.
  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 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.
  7. Taxes

    Top 6 Ways To Increase Your Tax Refund Now

    Planning ahead can generate a larger tax refund down the road - these tips will get you on the right path.
  8. Investing

    3 Ways to Invest Your Tax Refund

    Investing your tax refund is a smart way to reach your financial goals. But depending on what you want to achieve, investment styles may differ.
  9. Taxes

    Filing Early? Some Refunds Will Be Delayed to Feb. 15

    Extra data to fight fraud means some people's tax refunds will be held to Feb. 15. See if it affects you.
Hot Definitions
  1. Treasury Bill - T-Bill

    A short-term debt obligation backed by the U.S. government with a maturity of less than one year. T-bills are sold in denominations ...
  2. Index

    A statistical measure of change in an economy or a securities market. In the case of financial markets, an index is a hypothetical ...
  3. Return on Market Value of Equity - ROME

    Return on market value of equity (ROME) is a comparative measure typically used by analysts to identify companies that generate ...
  4. Majority Shareholder

    A person or entity that owns more than 50% of a company's outstanding shares. The majority shareholder is often the founder ...
  5. Competitive Advantage

    An advantage that a firm has over its competitors, allowing it to generate greater sales or margins and/or retain more customers ...
  6. Mutual Fund

    An investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities ...
Trading Center