- You win $100 in the office pool and you don't claim your winnings when file your tax return.
- Your friend gives you season tickets to a local theater in exchange you give her your vintage 8-track collection. You don't claim the $500 the tickets would have cost.
- You hire a college student to watch your children during the summer while you work. You paid her a total of $2,000. You don't pay Social Security or Medicare taxes.
- I work for XYZ company and one day a week my employer allows me to work out of my home office. I used that home office exclusively for that purpose. I declare that as a deduction.
- You run a Day Care business out of your home primarily in the family room. You claim the family room as part of the home office deduction.
Sunday, December 19, 2010
Are you a tax cheat?
Take the quiz to find out if you are a cheat or not. Video courtesy of the CBS morning show.