Perspective
Feb. 3, 2010
Separating Tax Myths From Reality
David Howard of Hoge Fenton Jones & Appel explains the truth behind three common tax myths that just won't die.
By David Howard
While there is a long list of tax myths, these three common myths just won't die! Myth #1: Form a corporation and save a ton of income taxes by deducting personal expenses as business expenses. Contrary to popular belief, forming a corporation does not magically transform personal expenses into business expenses. If you have a legitimate business, then legitimate business expenses are deductible. You do not have to form an expensive corpora...For only $95 a month (the price of 2 article purchases)
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