Top Twenty Tax Myths and Why They’re Wrong—Part 2

Bad tax takes aren’t limited to questionable TikTok videos: You can find them almost anywhere. And the more those takes are shared, the more legitimate they may appear to taxpayers.

Countering lousy advice, especially during tax season, is crucial. Here’s a look at some tax myths—and why they’re wrong. This is part two of an effort to bust common tax myths. If you don’t see your favorite lousy tax take here, check out Part 1.

• If you create an LLC, you can write off your lifestyle. This myth has really gained traction during the pandemic as a result of ...