Busting Tax Myths

The very mention of tax time can be enough to raise stress levels and dampen moods. Many people dread the tedious tax filing process and the seemingly small hope of getting back a refund. There are plenty of myths surrounding tax time that cause these negative notions, but not all the ideas you may have heard are true.

Sometimes, people might think they will always owe taxes or will only receive part of what they should get in a refund. This causes a feeling of being cheated even though the IRS actually paid out over $217 billion in 2015. Additionally, some people think that big, expensive accounting firms will get them the most money — but, in fact, more people are filing from home computers for free or at a low cost. In fact, smartphones like T-Mobile’s Galaxy S7 even offer apps to help you file your taxes. In this technological age, filing your taxes via a smartphone app on a reliable network such as T-Mobile’s can save you time and hassle.

Although tax season may have a bad reputation, the myths that surround taxes and refunds aren’t always true. Instead of dreading tax season, maybe it’s time to start looking forward to the positives that come along with it. The statistics say that you’re likely to get a refund, but even if you end up paying a bit, you’ll have peace of mind knowing that you helped support education, transportation, and other public goods that make life easier. Don’t fall for those tax myths anymore. Take a look at the following facts to get a better picture of what you can expect for tax season.

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For more on your taxes check out these great articles

Small Business Tax Forms & Which One You Should Use for Your Small Business
How I Picked My CPA out of Thousands of Registered Tax Preparers
What do I do if I owe Taxes?

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