Income Tax Secrets?Yes! If President Donald Trump were truly in violation of any tax laws, don’t you think the Internal Revenue Service would immediately initiate charging him criminally? They sure didn’t waste any time with Fat Joe, Richard Pryor, Wesley Snipes, Lauren Hill, and DMX, just to name a few. There must be some income tax secret that Trump is utilizing to keep the hellhounds at bay. Surely, Donald Trump isn’t getting any special treatment from a private-for-profit corporation who has a “Fuck you, pay me” culture.
What is Income?The reason why people record, file, and pay income taxes is that they don’t actually know what income is. They think what they’re paid at their jobs is income, when in fact, this is the furthest thing from the truth. People incorrectly assume income means money that is coming in. Having said that, we must first comprehend that income is a legal term that has a legal definition.
Black’s Law Dictionary 5th Edition defines income as:The return in money from one’s business, labor, or capital invested; gains, profits, salary, wages, etc. The gain derived from capital, from labor or effort, or both combined, including profit or gain through sale or conversion of capital. Income is not a gain accruing to capital or a growth in the value of the investment, but is a gain, a profit, something of exchangeable value, proceeding from the property, severed from the capital, however invested or employed, and coming in, being derived, that is, received or drawn by the recipient for his separate use, benefit, and disposal. The true increase in amount of wealth which comes to a person during a stated period of time. All that is mighty confusing, right? Trust me, it is purposely written to be confusing for the average laymen. You would have to use a law dictionary to look up several other words in the definition itself in order to fully comprehend what’s being said. What it truly boils down to is that income is nothing more or less than gains and profits from investments. People have been committing perjury on their tax forms, claiming to be making income.
(Visited 324 times, 1 visits today)