Tax season is nearly here, which means it’s time to gather all your returns, find your receipts, tally up your donations, and figure out all your write-offs from 2019. It’s also time to educate yourself about some of the top tax scams that make the rounds every year.

Unfortunately, there are a lot of unsavory people out there looking to rip you off. During tax time, these people will attempt to steal your identity, drain your bank account, and take your tax refund. No matter who you are, you need to watch out for these tax fraudsters.

Let’s take a look at some of the top tax schemes to be aware of this year and find out how you can protect yourself in 2020 and beyond.
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Assignment of income allows you to assign part of your income directly to another person. While there are several valid reasons to assign your income to someone else, many taxpayers mistakenly believe that it can help lower their taxable income. While assignment of income allows you to divert income, you cannot divert taxes.

In this article, we’ll provide some examples of failed attempts at avoiding income taxes through the assignment of income and the valid reasons someone might want to assign income to someone else. Read more

If you are self-employed, and travel away from home on business, you can deduct certain expenses, like meals or lodging, that you ordinarily could not.  If you have employees who travel, and you reimburse them for travel expenses like food and incidentals (e.g., you can also use the per diem rates so long as you reimburse the employee at the per diem rate.  Read more