CDP Tax Services

🚨 Myth vs. Fact

MYTH: “If I made under $600, I don’t have to report it on my taxes.”

FACT: The $600 rule is one of the biggest tax myths out there.

The truth is, all income is generally taxable unless the law specifically says otherwise. The $600 threshold is often about whether a business is required to issue certain information forms, like a Form 1099-NEC, not whether you have to report your income.

Whether you earned $200, $600, or $6,000 from a side hustle, freelancing, cash jobs, or self-employment, you may still have a tax reporting obligation.

Don’t let a common myth lead to tax problems later.

When in doubt, ask a tax professional before assuming income doesn’t need to be reported.

💬 Have you heard this myth before? Comment “MYTH” if this post taught you something new!

📩 Have tax questions? Send me a message—I’m here to help.

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💰 Business Deductions People Often Overlook

Did you know you could be leaving money on the table simply because you’re not tracking all of your business expenses?

Here are a few deductions business owners commonly overlook:

✅ Business mileage (keep a mileage log)
✅ Office supplies and postage
✅ Business software and subscriptions
✅ Marketing and advertising expenses
✅ Cell phone and internet (business-use portion)
✅ Business insurance
✅ Professional licenses and continuing education
✅ Bank fees and payment processing fees
✅ Home office expenses (if you qualify)

⚠️ Remember: An expense must generally be ordinary and necessary for your business to qualify as a deductible business expense.

The key is keeping good records throughout the year—not trying to remember everything at tax time.

Don’t guess what you can deduct. Make sure you’re keeping the right documentation and getting professional guidance.

📩 Need help identifying deductions your business may qualify for? I’m here to help!

💬 What’s one business expense you’re never sure you can deduct?

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