People love to talk about tax ‘write-offs”. It seems like social media has made many people view tax write-offs as a magical solution or a cheat code to save money on their taxes. However, the reality is that a tax write-off isn’t a cheat code or a guaranteed shortcut to financial success.

Have you ever seen someone talk about the Holy Grail of tax write-offs on social media? Or maybe you’ve heard someone you personally know brag about something they purchased with the intent to write it off on their taxes?

The truth is (fair warning – I’m sorry because I know this is going to come off too strong) they probably don’t understand how a write-off works.

Take this trade, for instance: If you give me $100, then I’ll give you $20 in return. What do you think – deal or no deal?

No deal, right?

This is the trade people make all the time when they purchase something through their business just because it’s a write-off.

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