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. 

  • Headlines from Lucas, Wood, Ottawa, Fulton & Monroe CountiesNewsMore>>

  • Pizza Palooza kick off in Sylvania this weekend

    Pizza Palooza kick off in Sylvania this weekend

    Friday, July 20 2018 9:56 PM EDT2018-07-21 01:56:42 GMT
    (The event also brings a little friendly competition. There were seven different pizza vendors showcasing recipes, hoping to win the prize for best pizza place.)(The event also brings a little friendly competition. There were seven different pizza vendors showcasing recipes, hoping to win the prize for best pizza place.)
    (The event also brings a little friendly competition. There were seven different pizza vendors showcasing recipes, hoping to win the prize for best pizza place.)(The event also brings a little friendly competition. There were seven different pizza vendors showcasing recipes, hoping to win the prize for best pizza place.)

    Live music, family friendly activities, and of course, eating pizza, are just a few things you'll find at this delicious event.

    More >>

    Live music, family friendly activities, and of course, eating pizza, are just a few things you'll find at this delicious event.

    More >>
  • Workforce development order from Trump adds local work opportunities

    Workforce development order from Trump adds local work opportunities

    Friday, July 20 2018 9:44 PM EDT2018-07-21 01:44:45 GMT
    (source: WTOL)(source: WTOL)
    (source: WTOL)(source: WTOL)

    The United Brotherhood of Carpenters presented to the president a plan to hire 50,000 carpenters nationwide over the next five years.

    More >>

    The United Brotherhood of Carpenters presented to the president a plan to hire 50,000 carpenters nationwide over the next five years.

    More >>
  • Area residents frustrated after Sylvania Township refuses TARTA expansion proposal

    Area residents frustrated after Sylvania Township refuses TARTA expansion proposal

    Friday, July 20 2018 9:14 PM EDT2018-07-21 01:14:31 GMT
    (Source: WTOL)(Source: WTOL)
    (Source: WTOL)(Source: WTOL)

    Some Toledo residents said they wish they were given the opportunity to vote on how their transit system is funded and hope they will be given that opportunity in the future. 

    More >>

    Some Toledo residents said they wish they were given the opportunity to vote on how their transit system is funded and hope they will be given that opportunity in the future. 

    More >>
Powered by Frankly