When it comes to managing your finances and taxes, you'd be wise to take advice from TikTok with a hefty grain of salt. Certain tax "loopholes" may go viral, but that doesn't mean they're good for your specific tax situation. The bite-sized video format of TikTok lends itself to oversimplification and embellishment on complex topics like tax planning. Many videos distill nuanced tax strategies down to just a few misleading sentences. Let's take a look at some of the TikTok tax advice that have gained traction, but could potentially lead people astray.Forming an LLC to deduct personal expensesSome videos claim you can form a limited liability company (LLC) to deduct personal expenses like you
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