Three Income Tax Misconceptions

Summer is here. Tax season has come and gone and even those of us that extend can probably ignore our taxes for a few months. However, I thought I would take this ignoring of taxes issue head on with a discussion of income taxes. Over the years, I have noticed that typically, my friends, family, acquaintances and clients have at least a few misconceptions of income taxes. Three Misconceptions: Marginal tax rates generally don’t apply to all income Deductions and income tax credits aren’t [...]