abolish individual income taxes Article
abolish individual income taxes Article
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IRS Circular 230 Disclosure: The discussion of U.S. federal tax matters contained in this article is not intended or written to be used, and cannot be used, for the purpose of avoiding valid penalties under the Internal Revenue Code or promoting, marketing or recommending to another party any transaction or tax-related matter[s] designed to avoid payment of taxes due the United States.
If the government finds out and comes after you, there will probably be a full investigation as to the reporting of your entire income stream. Probably the best thing you can do right now is to consult with a very sophisticated CPA or tax lawyer.
But the modified adjusted gross income corrects this discrepancy by factoring out the conversion income and getting a more accurate picture of your true income.
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The second option necessitates the filing of an additional “information return” with your tax return. Income becomes unblocked when it becomes converted or convertible.
Online auctions and retailing is big business and growing every year. eBay is the number one site for individuals to sell items and products on the internet. If you are thinking about selling on eBay.
Avoid using rounded numbers and “guess-timates” as a substitute for your actual expenses. A Schedule C raises your “audit risk”; expenses that are “round numbers” like $100 or $250 even if legitimate, increase suspision.
Many folks seeking online for articles related to abolish individual income taxes also sought for articles about income taxes, health care, and even social security income tax.