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17911Re: [tips_and_tricks] Re: Trojan Horse buried in Health Care Bill...New IRS Paperwork for You to fill out

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  • John Hill
    Oct 3, 2010
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      RE:
       
      If you qualify for these additional requirements and are an individual, you are exempt.  If you have several rental properties, you might have a problem qualifying, even if you claim to be an individual.

       
       

      The question to be asked of SEC. 2101 is;

      Are you a person or an individual?

      If you're a person you pay
      If you're an individual you're exempted.
       
      REPLY:
       
      Have we forgotten the basics of taxation? An income tax is a tax on specified taxable ACTIVITY, a PRIVILEGE granted by the government. (Rights granted by the Creator cannot be taxed as "privilege").Income derived from "rental property" would be taxed under a direct tax, not under an income tax. Unless the entity is a corporation. But that also can be debated until the cows come home. ALWAYS CONSIDER the SOURCE of the income! The point of this post is, let us not forget the basics of taxation and confuse those who may be new to the group or just getting their hands wet in trying to keep what is rightfully and lawfully theirs from being confiscated by the Infernal Revenue Service. Income tax- A tax on specified taxable ACTIVITY. Direct tax- A tax on property and income derived from property, or a capitation.
       
       
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