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6 Tax Myths You Should Know About

submitted on February 1, 2011 by pablos17 in "Member's Lounge"
We all think we know the parts of the tax code that affect us. But do we really? If you believe some of these myths, you could pay more tax than you should.

Myth 1: Students are exempt
Myth 2: My child is working, so I can't claim him as my dependent
Myth 3: I'm over age 55, so I can sell my house tax-free
Myth 4: I had to buy my first house to be a first-time homebuyer
Myth 5: I can deduct my sales taxes
Myth 6: I'm married, so I have to file a joint return


Read more:
http://money.msn.com/taxes/6-t.....epper.aspx
     

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  Comments
  • 101473
    laaya
    professor
    1 1 2
    11 8 2
    Posted by laaya on February 1, 2011
    [reply] 2 0
    I'm going to use this
    I had to buy my first house to be a first-time homebuyer
    and
    I'm married, so I have to file a joint return
  • 101519
    CouponNut
    deity
    23 14 8
    12 10 2
    Posted by CouponNut on February 1, 2011 [reply] 0 0
    I never believe what others SAY about taxes because I read the IRS bulletins as they become available while doing my job; hence having a livelyhood of tax preparation.

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