A CPA Says Most People Have No Idea How Taxes Really Work. 'You Can Put Whatever You Want On Your Tax Return Until You Get Audited'

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Talk to enough people about taxes and the same myths come up again and again. Write-offs are treated like free money. Tax brackets are feared. Refunds are seen as bonuses. And plenty of workers are ...

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'You Can Put Whatever You Want On Your Tax Return Until You Get Audited'","media":"Benzinga_recent_news","content":"<div>\n<p>Talk to enough people about taxes and the same myths come up again and again. Write-offs are treated like free money. Tax brackets are feared. Refunds are seen as bonuses. And plenty of workers are ...</p>\n\n<a href=\"https://www.benzinga.com/personal-finance/management/26/02/50485190/a-cpa-says-most-people-have-no-idea-how-taxes-really-work-you-can-put-whatever-you-want-on-your-tax-return-until-you-get-audited\">Source Link</a>\n\n</div>\n","source":"benzinga_recent_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>A CPA Says Most People Have No Idea How Taxes Really Work. 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'You Can Put Whatever You Want On Your Tax Return Until You Get Audited'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-10 00:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/personal-finance/management/26/02/50485190/a-cpa-says-most-people-have-no-idea-how-taxes-really-work-you-can-put-whatever-you-want-on-your-tax-return-until-you-get-audited><strong>Benzinga_recent_news</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Talk to enough people about taxes and the same myths come up again and again. Write-offs are treated like free money. Tax brackets are feared. Refunds are seen as bonuses. And plenty of workers are ...</p>\n\n<a href=\"https://www.benzinga.com/personal-finance/management/26/02/50485190/a-cpa-says-most-people-have-no-idea-how-taxes-really-work-you-can-put-whatever-you-want-on-your-tax-return-until-you-get-audited\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1236620834.HKD","symbol_name":"HSBC GIF GLOBAL SUSTAINABLE LONG TERM DIVIDEND \"AM2\" (HKD) INC","start_time":0,"source_url":"https://www.benzinga.com/personal-finance/management/26/02/50485190/a-cpa-says-most-people-have-no-idea-how-taxes-really-work-you-can-put-whatever-you-want-on-your-tax-return-until-you-get-audited","article_id":"2610965255","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/files/images/story/2026/02/09/Tax-Accountants-Want-You-To-Do-This-Befo.jpeg?optimize=medium&dpr=2&auto=webp&width=240"],"rights":{"source":"benzinga_recent_news","url":"https://www.benzinga.com/personal-finance/management/26/02/50485190/a-cpa-says-most-people-have-no-idea-how-taxes-really-work-you-can-put-whatever-you-want-on-your-tax-return-until-you-get-audited","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2610965255","pubTimestamp":1770653760,"columns":[],"sourceInfo":{"source_id":"benzinga_recent_news","name":"Benzinga"},"weMediaInfo":null,"summary":"Talk to enough people about taxes and the same myths come up again and again. Write-offs are treated like free money. Tax brackets are feared. Refunds are seen as bonuses. And plenty of workers are convinced that earning more will somehow cost them in the end.Those misunderstandings were on full display in a recent discussion on Reddit’s r/tax forum, sparked by a certified public accountant who also works as a firefighter and shared a moment that will sound familiar to many accountants.During a training class, one of his captains confidently told the room that firefighters could write off razors, shaving cream, gym equipment, and even food eaten while on shift because it was “required for work.”When the CPA pushed back, the captain doubled down, insisting his “tax guy” had been doing it for years. “You can put whatever you want on your tax return until you get audited,” he told the captain.See Also: Designed for investors with strong market convictions, REX Shares builds ETFs for incom","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1236620834.HKD":"HSBC GIF GLOBAL SUSTAINABLE LONG TERM DIVIDEND \"AM2\" (HKD) INC","CPA":"科帕控股","BK4008":"航空公司","BK4500":"航空公司","LU1236620750.USD":"HSBC GIF GLOBAL SUSTAINABLE LONG TERM DIVIDEND \"AM2\" (USD) INC"},"translate_title":"一位注册会计师表示，大多数人不知道税收实际上是如何运作的。“在接受审计之前，你可以在纳税申报表上填写任何你想要的内容”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CPA":1.5},"content_text":"Talk to enough people about taxes and the same myths come up again and again. Write-offs are treated like free money. Tax brackets are feared. Refunds are seen as bonuses. And plenty of workers are convinced that earning more will somehow cost them in the end.\nThose misunderstandings were on full display in a recent discussion on Reddit’s r/tax forum, sparked by a certified public accountant who also works as a firefighter and shared a moment that will sound familiar to many accountants.\nDuring a training class, one of his captains confidently told the room that firefighters could write off razors, shaving cream, gym equipment, and even food eaten while on shift because it was “required for work.” \nDon't Miss:\nWhen the CPA pushed back, the captain doubled down, insisting his “tax guy” had been doing it for years.  “You can put whatever you want on your tax return until you get audited,” he told the captain.\nThat line quickly drew a response from hundreds of tax professionals, preparers, and regular taxpayers, who piled into the comments with stories that revealed just how misunderstood taxes are, especially when it comes to write-offs.\nThe most common misunderstanding, by far, was the idea that a write-off is the same thing as free money. Many people believe that if they spend $1,000 on something and “write it off,” the government gives them $1,000 back. \n“The number of people who think ‘write off’ means ‘the government reimburses me’ never stops surprising me,” one CPA said. “That misunderstanding alone explains a lot of bad tax decisions.”\nTrending: Motley Fool's analysts have built a new lineup of passive ETFs — explore which \"Foolish\" strategy fits your investment goals.\n“The amount of people who would rather spend $100,000 to save $30,000 in tax is mind blowing,” one commenter summed up the frustration.\nThe thread quickly turned into a greatest-hits list of things people tried to deduct.\nPeople described attempts to deduct everything from personal vehicles with no real business use and family vacations labeled as “research,” to pets claimed as dependents, everyday grooming and clothing, lottery tickets, casino trips, cruises, Netflix subscriptions, child care, weddings, and even cosmetic surgery.\nAnother recurring theme was widespread fear of tax brackets. Many workers avoid overtime, bonuses, or raises because they believe earning more money means all their income gets taxed at a higher rate. Several preparers shared stories of clients who refused overtime because they thought it would result in lower take-home pay.\nOne tax preparer recalled a mother yelling at her adult son for working too much overtime because it cost him eligibility for a small credit. Even after the numbers were explained, she refused to believe earning more was better.\nSee Also: Designed for investors with strong market convictions, REX Shares builds ETFs for income, leverage, and tactical positioning — explore the lineup.\nOthers pointed out that while withholding on overtime or bonuses can look higher on a single paycheck, that does not change the total tax owed for the year. \nFew topics irritated tax professionals more than the constant mixing up of refunds and returns, as many people judge a preparer’s skill by how big their refund is. One tax professional shared an exchange where a client said, “You must not be a very good preparer,” after learning they owed $100 instead of getting money back.\nAs the CPA who started the discussion learned in his firehouse classroom, plenty of people are sure they are right, right up until the audit notice arrives.\nRead Next: Wall Street's $12B Real Estate Manager Is Opening Its Doors to Individual Investors — Without the Crowdfunding Middlemen\nImage: Imagn\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}