Tax pros warn against following terrible tax tips circulating on TikTok
CBSN
As tax day approaches, TikTok creators are dolling out filing tips, including suggestions about what kinds of purchases to write off. But financial professionals caution against following advice proliferating on the social media platform that might be unsound.
Among the most visible, but flawed pieces of advice are claims that taxpayers can write off their pets as business expenses, or hire one's own kids for a tax refund.
The Internal Revenue Service has also cautioned taxpayers against interpreting dubious social media advice as legitimate, saying that following wrong advice could potentially lead to fines.
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