Debunking 8 common myths and misunderstandings about taxes (Part 1)

The Empowered Investor · Apr 20, 2023 · 56m

It’s getting to be that time of the year again— Tax Day is approaching and you start hearing conflicting things from friends and family about what is—and what isn’t—okay when filing your taxes. There’s a lot of misinformation out there about various deductions, loopholes, and write-offs that can get you into hot water if you blindly follow someone else’s bad advice.

We’ve all heard people saying the rich don’t pay taxes, and the government is robbing us, or horror stories of being taxed at over 50% once your income is more than $100,000. Social media has amplified the problem, spreading myths…