More Taxpayer Misconceptions
April 21, 2014 7:58 PM
James Steidl/James Steidl - Fotolia
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.
WavebreakmediaMicro - Fotolia
Theres 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.
fotosergio - Fotolia
If theres no document, theres no income.
Income is income, regardless of whether the taxpayer or the IRS received an information reporting form about it.
Ryan Jorgensen/jorgophotography - Fotolia
I need to look presentable for clients, so
Except with certain work-related uniforms and very specific occupations, needing to look good doesnt mean you get to deduct gym or spa memberships, health foods, or nice clothes.
Artur Marciniec - Fotolia
E-filing is a trick to rob me.
Apparently, theres 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.
Creativa - Fotolia
Private school tuition is deductible.
Nope.
Kat - Fotolia
Ill deduct the maximum mileage.
There is no maximum or minimum mileage just how far you drove.
Kamil Macniak/Kalim - Fotolia
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 its your wedding, your birthday or your childs birthday does not make it deductible.