More Taxpayer Misconceptions
Apparently, there’s no end to the ridiculous things taxpayers believe
More Taxpayer Misconceptions
Earlier this year we posted a slideshow of common taxpayer misconceptions -- and readers started sending in their own examples, including many culled from the heat of tax season. A selection follows.
There’s a maximum age for the income tax.
"How old do I have to be before I can stop paying taxes?" is apparently a frequent question from clients, but no matter how old you get, you are always eligible for the income tax.
If there’s no document, there’s no income.
Income is income, regardless of whether the taxpayer or the IRS received an information reporting form about it.
I need to look presentable for clients, so …
Except with certain work-related uniforms and very specific occupations, needing to look good doesn’t mean you get to deduct gym or spa memberships, health foods, or nice clothes.
E-filing is a trick to rob me.
Apparently, there’s at least one client out there who insists on paper filing because they believe that if they e-file, the IRS will have access to their bank account and will steal their money.
Private school tuition is deductible.
I’ll deduct the maximum mileage.
There is no maximum or minimum mileage – just how far you drove.
I had clients at my wedding, so I can deduct it!
While there are rumors that a wedding planner was able to deduct some expenses because she really was able to use her wedding for professional purposes, having clients attend a non-professional event, -- whether it’s your wedding, your birthday or your child’s birthday – does not make it deductible.
Accounting Principals’ list shows where your next job should be
Productivity can be a big problem, even at major accounting and tax firms and other types of businesses. Employers recently shared some real-life examples with the staffing company CareerBuilders of some of the more unusual things they've seen employees doing when they should have been busy working:
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BKR International hosted a panel of some of the best accounting marketers in the country in conjunction with the Association for Accounting Marketing Annual Summit in Austin, Texas. Putting their smart brains together, they agreed on 10 best practices for building the reputation and visibility of accounting firms in a high technology, but still high touch industry.
When it comes to day-to-day projects, some workers at accounting firms and other types of businesses feel assignments from the boss fall outside of their job description. Workers provided the following real-life examples to CareerBuilder of the most unusual requests they received from their bosses.
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A list of tax-focused handles worth following