Tax Myth Busters Don't Fall Prey to These Tax Misconceptions

Five million new businesses were created last year - a 42% increase from pre-2020 levels. While this surge has the power to propel millions of Americans forward, it also has the potential to shatter the American dream because of two simple words: tax troubles. Yes, the tax code can be overwhelming and complex. But, the bigger issue is when uninformed social media influencers make wildly outrageous tax claims and give very bad advice that can lead to very serious consequences for millions of Americans. Some of the myths and misinformation we bust: Become an Influencer and Deduct Everything! Start an LLC to Make Everything Tax Free! No Tax Forms? Your Income Isn't Taxable! Not My Fault. TikTok Told Me I Could Do It! "TAX MYTH BUSTERS DON'T FALL PREY TO THESE TAX MISCONCEPTIONS: EXPOSING THE TRUTHS ABOUT THE TOP TAX MYTHS offers practical guidance that busts the most prevalent myths and provides readers with accurate, up-to-date information from real tax experts and financial leaders. We simplify the daunting world of taxes and give entrepreneurs the right tools to make informed and accurate financial decisions so that they can take advantage of all the best tax saving strategies while keeping them in compliance with tax laws and regulations, and on their way to building their dream business. LEARN FROM THESE SUBJECT MATTER EXPERTS Lily Tran, EA, CTP Duke Alexander Moore, EA Al Leruth, MBA, MAcc, EA, CPA, CMA Jessica Smith, EA Matthew Gaylor, EA, CTP Jamie O'Kane, CPA, CTC Janet Sienicki, EA, ABA Fred Stein, CPA, EA