6 Tax Myths Everyone Should Know

AAA
The notion that large refunds are good is but one of the many enduring tax myths.

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.

You May Also Like

Related Articles
  1. Taxes

    How To Deduct All Of Your Charitable Donations?

  2. Taxes

    What is Value-Added Tax (VAT) and who pays it?

  3. Taxes

    What is the difference between gross income and earned income?

  4. Taxes

    What are the differences among gross income, adjusted gross income and modified adjusted ...

  5. Taxes

    What is the difference between gross income and taxable income?

  6. Investing Basics

    What are the potential pitfalls of owning REITs?

  7. Taxes

    How are trust fund earnings taxed?

Trading Center