Money Talks News: Most Americans cheat on taxes - News, Weather, Sports, Toledo, OH

Money Talks News: Most Americans cheat on taxes

(Source: WTOL) (Source: WTOL)
(Money Talks News) -

Nearly one in four Americans says it's OK not to report a little under-the-table income to the IRS, according to a 2015 survey by NerdWallet.

Now if that's shocking to you, consider this: Almost all of us, technically, at least, are tax cheats.

Let's say some do-dad at a yard sale is bought for $10 and sell it for $50. Should you report it and pay taxes on that profit? What if you find money on the street? How about those Friday night poker games? Or that church raffle? 

Being a taxpayer, you are obligated to report on your tax return all of your earnings.

Of course the amounts we're talking about are super small and don't really matter much, but it is kind of interesting that while most of us would say we'd never cheat on our taxes, most of us probably do a little bit.

Want more information to get your taxes as low as possible without cheating? I can help you with that. Click here and do a search for "Tax Hacks 2017."

© 2017 Money Talks News. All Rights Reserved. 

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