TAX MYTHS (AS REPORTED BY SELENA MARANJIAN ON MONEY.CNN.COM)

Taxes are complicated. There is no avoiding that. The US tax code is so complex that its likely even a lawyer who specializes on tax law doesn’t know all the details. So how can you or I be expected to understand them?

While becoming an expert in the tax code may not be possible, there are some simple myths about taxes that a basic education should clear up. The first, you don’t always want a big refund. While it may be nice to get a large check from the government at the end of the year, all it means is that you were paying them too much money for the last 12 months. If you had kept that money instead, you could have done something with it. Money is more valuable to you now than it is in the future.

Click here to learn about six more tax myths.

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