Top 8 tax myths 2022:
- Paying taxes is voluntary.
- Students don’t need to pay taxes.
- If I can’t pay my taxes I could go to prison.
- An LLC helps convert personal expenses to business expenses.
- Estate tax isn’t a big deal and doesn’t affect many people.
- I don’t have to report income if I did not receive a Form 1099.
- American companies pay a high rate of tax compared to other countries.
- Cryptocurrency transactions don’t need to be reported.