We all wish we could follow in the successful footsteps of our favorite celebrities. But sometimes, you can learn from their mistakes as well. For whatever reason, celebrities often end up crossing paths with the IRS. You might assume that most of the problems stars have with the tax man don't really apply to average everyday folks. But though the dollar amounts might be smaller, many ordinary people get snared by the same traps that catch Hollywood's best and brightest.
Let's take a look at some common mistakes and what you can do to avoid them.
Click through our Celebrity Tax Lessons here:
For more smart tax moves:
- 2012 Tax Changes: What You Need to Know
- The Real Reason to Adjust Your Withholding
- Make the Most of a Bad Investment
If Motley Fool contributor Dan Caplinger ever becomes a celebrity, he'll do his best to avoid those tax mishaps. You can follow him on Twitter here.
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